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TGI-Good Friday: Hot Chocolate
Manage episode 409314530 series 3392107
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That sweet tooth is getting increasingly more expensive to satisfy. The culprit this time: Chocolate. Cocoa prices have tripled since last year due to a bean disease in West Africa. It's not looking like prices will come down anytime soon. Cocoa supplies are down drastically. There’s no quick nor easy fix. Production has been curbed by severe weather and the crop disease in both Ghana and the Ivory Coast. Together, these nations are responsible for roughly 70% of global Cocoa production. Nearly 5 million tons of Cocoa were produced around the world last year. Supply shortages sent Cocoa futures prices surging well past $10,000 per metric ton this week. The price has increased 50% this month alone. In fact, Cocoa beans are now more expensive than Copper. That’s some hot chocolate...
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