Our global love of delicious chocolate may prove to be our undoing, according to recent warnings from companies like Mars, Inc. and Barry Callebaut.
World chocolate consumption reached 70,000 metric tons more than farmers produced — a shortfall expected to continue through 2018. By 2030, the deficit could reach 2 million metric tons!
Why the shortage? It’s not just rising demand. 70% of the world’s cocoa is produced in West Africa, where droughts and fungal diseases in Ghana and the Ivory Coast have devastated production, and the recent Ebola outbreaks are now contributing to the problem as well.
The impact on the supply chain: a huge climb in prices, up 60% over the past few years and jumping 24% this year alone.
At this rate, everyone had better get used to the taste of “mockolate.”