Scorching heat has exposed the risk of global shortage of some foods. El Niño's damage to cocoa production caused prices to climb. Increasing costs spurred chocolate manufacturers into action. The world's leading chocolate manufacturers are already warning against future increases. El Niño, which affected most of the world during the summer, hit agricultural production. After olive oil and rice, alarm bells are now ringing for cocoa. Cocoa production contracted due to El Niño. While the scorching heat limited production, expectations that costs in chocolate production would rise also increased. There are warnings about price increases in chocolate. According to BloombergHT, it is said that costs in chocolate production may rise if West Africa's new cocoa harvest does not meet expectations. Cocoa prices fell last year amid fears that scorching heat and disease would disrupt production in Ivory Coast and Ghana, which account for two-thirds of the world's supply.
Scorching heat has exposed the risk of global shortage of some foods. El Niño's damage to cocoa production caused prices to climb. Increasing costs spurred chocolate manufacturers into action. The world's leading chocolate manufacturers are already warning against future increases. El Niño, which affected most of the world during the summer, hit agricultural production. After olive oil and rice, alarm bells are now ringing for cocoa. Cocoa production contracted due to El Niño. While the scorching heat limited production, expectations that costs in chocolate production would rise also increased. There are warnings about price increases in chocolate. According to BloombergHT, it is said that costs in chocolate production may rise if West Africa's new cocoa harvest does not meet expectations. Cocoa prices rose nearly 47 percent last year on fears that scorching heat and disease would disrupt production in Ivory Coast and Ghana, which account for two-thirds of the world's supply. With ...
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