Business Food News

"Rising Cocoa Prices Spark Global Chocolate Shortage Concerns"

The price of cocoa beans has more than doubled since January, reaching a record high due to a severe drop in supply caused by severe weather, plant disease, and illegal mining in West Africa, where most cocoa beans are grown. This surge in price is expected to result in higher costs for chocolate products ahead of the Easter holiday, with some shops already selling chocolate eggs for $80, impacting celebrations like Valentine's Day as well.