Fears of chocolate price rises after bad cacao harvests lead to shortages
The Guardian|March 30, 2024
Around the world this weekend, people will consume hundreds of millions of Easter eggs and bunnies as part of an annual chocolate intake that can exceed 8kg (18lb) for every Briton , or 5kg for Americans and Europeans .
Patrick Greenfield
Fears of chocolate price rises after bad cacao harvests lead to shortages

But a global shortage of cacao – the seed from which chocolate is made – has brought warnings of price increases and shrinking bars. This week, cocoa prices rose to alltime highs on commodity exchanges in London and New York, reaching more than $10,000 (£8,000) a tonne for the fi rst time, after the third consecutive poor harvest in west Africa.

Ghana and Ivory Coast, which produce more than half of the global cacao crop , have been hit by extreme weather supercharged by the climate crisis and the El Niño weather phenomenon . This has been exacerbated by disease and underinvestment in ageing plantations.

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