Easing inflation has come as a sweet news to consumers in the recent months. However, for chocolate lovers, the latest developments in cocoa-producing countries could come as a bitter news.&nbsp;

The cost of wholesale cocoa beans has surged to the highest levels in over a decade in the cocoa-producing countries of West Africa. Moreover, the region is grappling with the double blow of heavy rains and a devastating rot-causing disease, leaving cocoa production in dire straits.&nbsp;

West Africa accounts for a whopping two-thirds of the world's cocoa bean harvest.&nbsp;

This situation has set the alarm bells ringing for global chocolate manufacturers, who fear that the prices of their products will continue to climb throughout 2024. Candy makers like Lindt and Hershey's are not shying away from the truth, warning consumers that further price hikes are unavoidable.&nbsp;

Adding to the concern is the looming threat of an El niño effect -- it warms the ocean surface and leads to irregular weather patterns -- which could further impact cocoa output this year.&nbsp;

While the pandemic did lead to a temporary slowdown in global chocolate demand, the tables have turned. Consumption is rebounding, and the two years of supply shortages have severely depleted cocoa stockpiles.&nbsp;

Companies like Lindt are trying to safeguard against higher prices and shortages by stockpiling cocoa beans as a precautionary measure, but whether it will be enough to offset the crisis remains uncertain.&nbsp;

The impact of soaring wholesale costs is bound to affect consumers, with experts predicting that the pinch will be felt in the second half of 2023.&nbsp;

Sadly, the days of larger chocolate bars at affordable prices might become a thing of the past as manufacturers could resort to downsizing products or raising prices. The impending cocoa crisis serves as a stark reminder that even the sweetest indulgence is not immune to the bitter realities of supply and demand dynamics.&nbsp;

Easing inflation has come as a sweet news to consumers in the recent months. However, for chocolate lovers, the latest developments in cocoa-producing countries could come as a bitter news.

Easing inflation has come as a sweet news to consumers in the recent months. However, for chocolate lovers, the latest developments in cocoa-producing countries could come as a bitter news. The cost of wholesale cocoa beans has surged to the highest levels in over a decade in the cocoa-producing countries of West Africa. Moreover, the region is grappling with the double blow of heavy rains and a devastating rot-causing disease, leaving cocoa production in dire straits. West Africa accounts for a whopping two-thirds of the world's cocoa bean harvest. This situation has set the alarm bells ringing for global chocolate manufacturers, who fear that the prices of their products will continue to climb throughout 2024. Candy makers like Lindt and Hershey's are not shying away from the truth, warning consumers that further price hikes are unavoidable. Adding to the concern is the looming threat of an El niño effect -- it warms the ocean surface and leads to irregular weather patterns -- which could further impact cocoa output this year. While the pandemic did lead to a temporary slowdown in global chocolate demand, the tables have turned. Consumption is rebounding, and the two years of supply shortages have severely depleted cocoa stockpiles. Companies like Lindt are trying to safeguard against higher prices and shortages by stockpiling cocoa beans as a precautionary measure, but whether it will be enough to offset the crisis remains uncertain. The impact of soaring wholesale costs is bound to affect consumers, with experts predicting that the pinch will be felt in the second half of 2023. Sadly, the days of larger chocolate bars at affordable prices might become a thing of the past as manufacturers could resort to downsizing products or raising prices. The impending cocoa crisis serves as a stark reminder that even the sweetest indulgence is not immune to the bitter realities of supply and demand dynamics.

Soon, your favourite chocolate bar will get costlier. Here's why

A bitter news for all the chocolate lovers the monsoons around the world and maybe the perfect time to sip on some hot chocolate. But, be aware because that Indulgence could bite your pocket.

Heavy rains lower cocoa output in Ivory Coast

According to Cocoa farmers there is no future in Cocoa farming anymore the price is too low for them to make a living. But now a public spat has intensify the battle between Cocoa farmers and chocolate giants. Chocolate giants are accused of avoiding fair pay. Know more in the video.

The bitter truth behind chocolate production

The use of child labour has risen in cocoa farms in Ghana and Ivory Coast over the past decade despite industry promises to reduce it, academics said on Monday, largely supporting earlier findings that were questioned by both states.

The prevalence of children doing hazardous work, including using sharp tools, has also gone up in the world's top two cocoa producers, according to the study funded by the US&nbsp;government.

The levels were higher than in 2010 when companies including Mars, Hershey, Nestle and Cargill agreed to reduce the worst forms of child labour in Ghana and Ivory Coast's cocoa sectors by 70% by 2020.

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The two West African countries - which together produce about two-thirds of the world's cocoa - had both questioned the methodology used in an earlier version of the report prepared by researchers from the University of Chicago and seen by Reuters in April.

Ghana again questioned the data in the new report, released on Monday after the US Department of Labor appointed a group of independent experts to conduct a review.

Mars said in a statement it had committed $1 billion to a responsible sourcing strategy and called for legislation to address the root causes of child labour on West African cocoa farms.

Hershey and Nestle referred Reuters to the World Cocoa Foundation (WCF) industry group. Cargill did not respond to a request for comment.

Monday's report cut the estimate of the number of children currently working in cocoa production in the two countries to 1.56 million, from more than 2 million in the April study, saying it had changed the ways it weighted its data. It did not give comparative totals from 10 years earlier.

"COMPLEXITY AND SCALE"

But it said the proportion of children from agricultural households in cocoa growing areas that are engaged in child labour in the cocoa sector across Ivory Coast and Ghana had increased to 45% in 2018/19 from 31% in 2008/09.

The corresponding levels for hazardous work had risen to 43% from 30%, it added.

"Despite the efforts made by the governments, industry and other key stakeholders in combating child labour and hazardous child labour during the past 10 years, the child labour and hazardous child labour prevalence rates did not go down," the report said.

It added that rates of child labour had stabilised since the last survey in 2013/14 and school attendance in cocoa growing areas had risen even as cocoa production surged.

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WCF president Richard Scobey said the report showed child labour remains a persistent challenge but that government and company programmes to reduce it were making a difference.

"Targets to reduce child labour were set without fully understanding the complexity and scale of a challenge heavily associated with poverty in rural Africa and did not anticipate the significant increase in cocoa production over the past decade," he added in a statement.

The International Cocoa Initiative (ICI), a foundation backed by industry and civil society, said what it called past sampling errors made it difficult to draw accurate comparisons over time.

Ghana's government was quoted in Monday's report questioning the reliability of the figures that showed a reduction in the number of child labourers from the April estimate, while maintaining a similar prevalence rate.

"This raises eyebrows about the reliability of the findings for any meaningful policy formulation and implementation," Ghana's ministry of employment and labour relations said.

Ivory Coast welcomed the revised results and both countries reiterated their commitment to eradicating child labour in cocoa farming.

US lawmakers have criticised the industry and US&nbsp;customs authorities asked cocoa traders earlier this year to report where and when they encounter child labour in their supply chains.

The use of child labour has risen in cocoa farms in Ghana and Ivory Coast over the past decade despite industry promises to reduce it, academics said on Monday, largely supporting earlier findings that were questioned by both states.

The use of child labour has risen in cocoa farms in Ghana and Ivory Coast over the past decade despite industry promises to reduce it, academics said on Monday, largely supporting earlier findings that were questioned by both states. The prevalence of children doing hazardous work, including using sharp tools, has also gone up in the world's top two cocoa producers, according to the study funded by the US government. The levels were higher than in 2010 when companies including Mars, Hershey, Nestle and Cargill agreed to reduce the worst forms of child labour in Ghana and Ivory Coast's cocoa sectors by 70% by 2020. Also read: New African-made films challenge Hollywood stereotypes The two West African countries - which together produce about two-thirds of the world's cocoa - had both questioned the methodology used in an earlier version of the report prepared by researchers from the University of Chicago and seen by Reuters in April. Ghana again questioned the data in the new report, released on Monday after the US Department of Labor appointed a group of independent experts to conduct a review. Mars said in a statement it had committed $1 billion to a responsible sourcing strategy and called for legislation to address the root causes of child labour on West African cocoa farms. Hershey and Nestle referred Reuters to the World Cocoa Foundation (WCF) industry group. Cargill did not respond to a request for comment. Monday's report cut the estimate of the number of children currently working in cocoa production in the two countries to 1.56 million, from more than 2 million in the April study, saying it had changed the ways it weighted its data. It did not give comparative totals from 10 years earlier. "COMPLEXITY AND SCALE" But it said the proportion of children from agricultural households in cocoa growing areas that are engaged in child labour in the cocoa sector across Ivory Coast and Ghana had increased to 45% in 2018/19 from 31% in 2008/09. The corresponding levels for hazardous work had risen to 43% from 30%, it added. "Despite the efforts made by the governments, industry and other key stakeholders in combating child labour and hazardous child labour during the past 10 years, the child labour and hazardous child labour prevalence rates did not go down," the report said. It added that rates of child labour had stabilised since the last survey in 2013/14 and school attendance in cocoa growing areas had risen even as cocoa production surged. Also read: Hundreds join hands to fight fire on Africa's highest mountain - Kilimanjaro WCF president Richard Scobey said the report showed child labour remains a persistent challenge but that government and company programmes to reduce it were making a difference. "Targets to reduce child labour were set without fully understanding the complexity and scale of a challenge heavily associated with poverty in rural Africa and did not anticipate the significant increase in cocoa production over the past decade," he added in a statement. The International Cocoa Initiative (ICI), a foundation backed by industry and civil society, said what it called past sampling errors made it difficult to draw accurate comparisons over time. Ghana's government was quoted in Monday's report questioning the reliability of the figures that showed a reduction in the number of child labourers from the April estimate, while maintaining a similar prevalence rate. "This raises eyebrows about the reliability of the findings for any meaningful policy formulation and implementation," Ghana's ministry of employment and labour relations said. Ivory Coast welcomed the revised results and both countries reiterated their commitment to eradicating child labour in cocoa farming. US lawmakers have criticised the industry and US customs authorities asked cocoa traders earlier this year to report where and when they encounter child labour in their supply chains.

Child labour rising in West Africa cocoa farms despite efforts: Report

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