Time to start hoarding that chocolate. Chocolate shortage on the horizon!
From the WSJ:
"Due to rising demand in emerging markets, food companies and commodity traders are forecasting that global consumption of cocoa will surge by 25%, to about five million metric tons, by 2020. Industry officials and market experts say new and better cocoa plants are vital to future supplies—and to keeping chocolate an affordable luxury."
Read all the depressing news here: http://online.wsj.com/article/SB10001...
Geez, doesn't anyone check facts? Cocoa beans have fallen from $3,490 US/ton last year at this time to $2,360, or about 47%. The price has gone up and down, but back in 1987, beans were just under $2,000/ton. 18% price rise over 25 YEARS?! Can't think of any foodstuff - milk, flour, eggs, meat, you name it - that's had so little inflation.
Now other input costs - sugar, labour, energy - will have gone up, so your chocolate bar may be more expensive. But blaming it on cocoa seems absurd.
ah, yes, the self-fulfilling prophecy.
Media outlet prints that something is scarce...everyone runs out and starts hoarding said something...and voila -- instant shortage.
Under supply and demand, the price (and therefore the profit) goes up....fat city for a producer savvy enough to create an artificial shortage.
God, I hate being so cynical.