World chocolate shortage: bad news for all the chocolate lovers out there, the world could soon be running out of chocolate. According to analysts, the massive consumption of the dark candy to is slow rate of production coupled with disease, pestilence an increasing chocolate market in China could mean that the sugary treat will be out of the shelves sooner than you think.
Last year alone, according to Mars Inc and Barry Callebout, the two largest chocolate producers in the world, the world consumed about 70,000 more metric tons of cocoa than it produced. The two firms also forecasted that by 2020, he demand will hit the 1 million metric ton figure, meaning that the world chocolate shortage may be possible.
The declining production of chocolate is blamed on various factors. In chief is the cocoa plant itself. It takes too long for a cocoa plant to produce cocoa beans. On average, it will take a seedling two years to produce the beans. It will take a longer period, about ten years, to identify a high value cocoa bean. Take this into consideration, then consider the emergence of new pests and fungi such as the dreaded frosty pod that has destroyed about 30 to 40% of the global cocoa production and you will understand why the world chocolate shortage may come to pass.
In another world, the emerging market in China is increasingly favoring the dark delight. Demand for chocolate in China is rising with its growing middle class, signaling the opening up of a huge billion dollar market.
The result of these is noticeable already. Cadburys has already reduced their iconic Dairy milk bar by 10%. Also, more chocolate bars with fillers such as nougat and nuts are being flooded in the market. The world chocolate shortage is already taking effect and as the analysts warn, the worst is yet to come.
