Chocolate Panic Escalates as Cocoa Crunch Sparks Scramble to Buy
A pile of cocoa pods, showing signs of black pod disease, during a harvest at a farm in the town of Kwabeng, Ghana, on Oct. 22, 2023.
Photographer: Paul Ninson/BloombergChocolate is hot right now, but not just because Easter is coming.
It’s down to shortages and soaring prices of main ingredient cocoa, and “everybody is panicking.” That’s how the head of Guan Chong, one of the world’s biggest cocoa processors, summed up the situation in the market right now.