The World is Running Out of Chocolate

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The World is Running Out of Chocolate
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The World is Running Out of Chocolate

Read on to learn about the dwindling supply of chocolate around the world.

Cocoa deficits are now becoming the norm thanks to the terrible combination of drought in West Africa, where over 70 percent of the world's cocoa comes from, and a fungal disease called frosty pod, which the International Cocoa Organization believes has harmed between 30 and 40 percent of the world's cocoa production.

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The price of cocoa has risen by roughly 10 percent after surging by 20 percent last year. Some analysts believe chocolate could eventually become a luxury good.

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According to The Washington Post, last year the world consumed about 70,000 metric tons more cocoa than it produced. Chocolate-makers worry that by 2020, the number could grow to a million metric tons.

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The demand for chocolate in China has also increased the price of the good.

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The Washington Post also reports that the increasing popularity of dark chocolate will additionally strain the cocoa supply since dark chocolate contains a lot more cocoa than a typical chocolate bar.

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Mars, Inc. and Barry Callebaut, two of the world's biggest chocolate suppliers, are gravely concerned that the the world's chocolate supply is in jeopardy. Prices of cocoa, the main ingredient in chocolate, have been rising, and even forced Hershey's to increase its prices.

Check out the slideshow above to learn why there could be a global chocolate shortage.

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