In only decades, chocolate production will drop drastically due to changes in weather patterns and agriculture incentives, which will make the price of many people’s favorite desert skyrocket, say experts.
According to reports, the production of cocoa – key ingredient in chocolate – is very labor intensive. On top of that, the cocoa trees reach maturity at very slow rates, while also depleting the soil they grow in of nutrients. Cocoa researchers say that the benefits will soon be too low to be worth the efforts, as cocoa plantation owners could easily turn to more lucrative endeavors in agriculture – such as palm oil, which is used in the production of biofuels and rubber.
Experts believe that changing agricultural practices in the growth of cocoa trees may save the world of chocolate deprivation.
Moreover, while chocolate consumption is increasing fast, the production can’t keep up the pace, as the past 3-4 years have shown. These factors combined could make chocolate too expensive for the average consumer.
In July this year, one of the top London hedgefunds Almajar has made what was coined at the time as the biggest cocoa deal. The hedgefund has bought all futures for the market of cocoa in London, at the cost of roughly one billion dollars. The transaction has pushed cocoa prices at their highest in the past three decades.
