PHOTO: The roll on effect of a downturn in cocoa supplies, which will contribute to higher chocolate prices, is yet to be felt locally, according to businesses like Bowser Bean at Condobolin.
In a shock for all chocolate lovers, the price of the delicious treat is about to skyrocket, thanks to record high cocoa prices.
Rabobank’s research arm has just released a report about high cocoa prices, which are putting strong pressure on chocolate producers around the globe. A cost pressure that will likely be passed on to consumers.
In the report, ominously entitled, Soaring Cocoa prices: The worst is yet to come, the bank says the main impact of the cocoa crisis still lies ahead, as companies hedge prices and supply contracts up to a year in advance…