News about the chocolate shortage circulates.
Many news websites reported that by 2020, the prices of chocolates wil increase due to lack of supplies of cacao.
The top countries who produce cacao are Ghana, Brazil, Nigeria, and Cameroon. The Ivory Coast and Ghana produce more than 70 percent of the world's cacao beans, and both countries are experiencing dry weather that limits growth. Another problems of the cacao famers of that contries, there is a fungal disease called frosty pod has destroyed 30 to 40 percent of global cocoa production.
On The Week Report, Mars Inc. and Barry Callebaut, two of the world's largest chocolate makers, say that's the path we're headed down. Furhtermore, less cocoa is being produced as more and more people are demanding chocolate.
In 2013, it was reported that chocolate consumers got 70,000 metric tons more cocoa than was produced as per The Washington Post reports. They added that the deficit could go up to 1 million metric tons by 2020.
Contrary to the reports that warned public about chocolate shortage news, ICCO released a statement that media reports are "overstated in the extreme."
As part of the released statement, the organization mentioned, "There is no threat to the supply of cocoa for chocolate manufacture. There has been a tight relationship between supply and demand over the years and, while our projections show that supply dificits are likely to occur during the next serveral years, stocks of cocoa beans should cushion this development before production groth accelarates."
