Chocolate is poised to become a luxury item globally, and Africa is the reason

Extreme weather, plant diseases and years of low wages at cocoa growing centers have so stressed producers that global production is expected to contract by 11% this season. This is particularly bad news in the chocolate heartlands of Germany and Switzerland, two countries famous for making high-quality chocolate bars, according to a Bloomberg report. “This is a wake-up call for many in this industry,” said Steinhoff, who works for Georgia Ramone. Because it is clear that things cannot continue as usual.” “From now on, chocolate will simply be a luxury.” Poor harvests in West Africa The poor harvest in West Africa has significantly reduced the availability of the crop, sending futures contracts above a record high of $10,000 per metric ton and putting pressure on the bottom lines of suppliers and manufacturers. Steinhoff ended up spending at least 40% more per kilogram than the company did last July. A persistent rise in cocoa prices is inflating food prices, but there are also ...