Chocoholics, be prepared to take a hit in the wallet.
The top producers of chocolate have joined forces to form a cocoa cartel. The West African countries of Ghana and the Ivory Coast make 60-percent of the world's cocoa and have already upped the price on exports by $400 per metric ton. Yes, hat’s definitely a lot.
At least one major cocoa processor expects to pass that increase on. This means candy bars, ice cream and cakes will likely cost more. At least the chocolate shortage experts feared would happen has been averted.
The price hike is expected to hit in October, so stock up and enjoy while you can!
Source:ABC Los Angeles