London, January 29: The world is facing a ” chocolate drought”, says an expert, whose warning is prompted by fears the globe’s sustainable cocoa supplies could be exhausted by 2014.
Political unrest in the Ivory Coast, the source of almost half the world’s cocoa beans, has depleted the number of cocoa farmers there. Many have fled the country or are smuggling the crop into Ghana, where it is selling at a far higher price, says British chocolatier Angus Kennedy.
Chocolate makers are now facing the highest cocoa prices for more than 30 years. Many have fled the country. Even if the political situation improves, it could take three years or more for the number of certified farmers to reach its former level.
-Agencies