Global cocoa woe pushes chocolate egg prices up

Chocolate fans globally need no excuse to gorge on their favourite treat this Sunday, but this year there is the extra incentive that it may be the last affordable chance to overindulge with a big surge in cocoa prices. Global analysts are warning that the price of cocoa is under intense upward pressure globally, with a potent cocktail of climate change, plant disease and poor agricultural practices creating issues with supply. David Guest, a professor at the University of Sydney specialising in the cocoa plant, said there had been a massive run up in prices in recent years. "Cocoa production worldwide is unsustainable," Prof Guest said. "The average price over the past few years has been about $US2500 a tonne ($A3850/t), today it is about $US8500/t ($A13,000)". He said one of the major issues within the industry was the unequal distribution of wealth. "The global chocolate industry is valued at $US128 billion ($A195.7b) a year, but the overwhelming majority of cocoa farmers live ...