Cocoa Farmers Destroy Crops, Drive Up Coffee Prices
Cocoa prices shot up and with them chocolate prices. Weather in Coast and Ghana, the two largest producing nations in the world, moved higher and a root disease that added to the climate problem.
*Food Prices
Farmers have begun to dig up trees because of the root disease, and this has pushed prices even higher. Last year, they nearly doubled. Some of these farmers will move to palm oil production, and may never return to cocoa. The supply problem will become permanent.
The cocoa mess has begun to repeat a pattern from other places. The orange crop in Florida was decimated by hurricanes. Drought has ruined the farming sector in Somalia, and other places around the world. Coffee prices have risen because of drought in Brazil.
Oranges And Coffee
The question becomes at what point the prices for oranges, coffee, and chocolate chock off demand. In theory, that should eventually make these prices begin to level or ever fall.
It may be dump luck, but the traditional seasons for chocolate consumption are over.
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