El Niño Could Make Chocolate More Expensive
Production of cocoa beans in West Africa — the largest growing region — may fall in the next season by as much as 8% on adverse weather, according to Fuad Mohammed Abubakar, head of Ghana Cocoa Marketing Company. Cocoa prices already surged to the highest in seven years this season following a disappointing harvest in top exporter Ivory Coast that worsened the global deficit.