Wednesday, March 9, 2011

Experts Predict Chocolate Drought by 2014

Chocoholics of the world had better start stocking up on their favourite chocolate bars, if we are to believe experts who say the world is facing a chocolate drought. They warn that the world's supply of sustainable cocoa could run out by 2014. Political unrest in the Ivory Coast has prompted these fears. Many cocoa farmers have fled to neighbouring countries because of fears for their security. This has greatly reduced the number of growers. The West African country grows 40 per cent of the world’s cocoa beans and fears of another civil war have sent the price of cocoa up. Prices have jumped by 10 per cent in this month alone and are set to reach their highest levels for 30 years.

Angus Kennedy, a leading British chocolatier and editor of a trade journal, told Britain’s Daily Mail newspaper: “Chocolate producers are facing one of the biggest challenges to hit the industry in recent history. Supplies of sustainable cocoa are set to run out, it's that simple." He commented on the political situation, saying: "The Ivory Coast is a complete no-go area for cocoa traders as it's too dangerous, so training new farmers and trying to cut problems in the region is now, mostly impossible.” On reports of record price increases, he said: “Prices can't go up as it's reported because there basically isn't enough certified cocoa left to sell.” He added that: "Things could get nasty now as producers start to fight over the last stocks.”

Source: Breaking News English

chocoholic - people who are addicted to chocolate
stock up - to keep for future use
drought - shortage
run out - become used up, become lost
unrest - chaos, time of riots, demonstrations and protests
prompt - cause, become the reason
grower - farmer
chocolatier - a person, or sometimes company, making chocolate
no-goa place not to be entered; a situation in which a planned operation cannot be carried out
nasty - offensive and malicious; unpleasant

What is the reason behind the upcoming chocolate drought?
Will the chocolate drought affect our economy?
How important are chocolates for us?

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