Chocolate prices will rise over cocoa shortage

source: http://insideireland.ie/2011/12/13/chocolate-prices-will-rise-over-coca-shortage-46532/

Experts have predicted that a cocoa shortage will lead to the price of chocolate rising significantly.

It is believed there will be a million-ton cocoa shortage within the next eight years, as cocoa farmers struggle to meet the demand for the product. Chocolate is now in demand in areas where it previously wasn’t popular.

Leading British chocolatier, Angus Kennedy said: “Part of the problem is the growing demand for chocolate in Asia where countries such as China are turning more towards Western tastes.”

Mr Kennedy warned that if farmers did not receive more help to boost crops chocolate would become a delicacy and prices would be significantly higher.

The imminent cocoa shortage was a key debate at a recent confectionery conference, Confection Expo.

Experts predict the £1 chocolate bar will become a thing of the past.

Iconic brands, such as Cadbury, Mars and Nestle are predicted to suffer the most.

John Mason, founder of the Ghana-based Nature Conservation Research Council predicts that eventually the situation will become even worse.

Mr Mason added: “In 20 years chocolate will be like caviar. It will become so rare and so expensive that the average Joe just won’t be able to afford it.”