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Chocolate Shortage: Everybody Panic
by Chris Malone,posted Dec 20 2013 5:39AM
Experts say the world is facing the worst cocoa deficit in 50 years. Cocoa demand reportedly exceeds output, and experts say in the next 10 months the gap between demand and supply will be a whopping 70-thousand metric tons. The International Cocoa (ICCO) Organization says that shortfall could persist for six years, which would be the longest running shortage since the ICCO began collecting data in 1960. One researcher explained the shortage by saying, "It's produced in countries in West Africa that tend to be politically unstable, and the weather can be difficult to predict." Researchers also say that demand has increased very much as once-poor populations are becoming middle class, and have more money to spend on luxuries such as chocolate. (Yahoo)