Bad news for chocolate manufacturers is actually a lesson in BCP excellence. We talk about being strategic and getting out in front of risks. Well, the $90 billion global chocolate industry isn’t about to melt away even though they face a looming cocoa bean shortage and rising costs of other key ingredients (like sugar). No, they’ve turned the bitter sweet by planning ahead.
According to this Los Angeles Times report, “Companies are looking to countries not known as major cocoa producers, such as Vietnam and China, to boost production. Mondelez International Inc., owner of brands such as Cadbury and Toblerone, said it would invest $400 million over the next decade to improve cocoa farming communities and help boost productivity; other massive candy sellers have taken similar steps…Manufacturers also are creating innovative new chocolates and manufacturing methods to try to differentiate themselves from competitors.”
Here’s wishing them sweet success!