Cocoa shortage leads to chocolate prices skyrocketing
Published: Mar. 19, 2024 at 1:48 PM EDT
(CNN) - Satisfying your sweet tooth with chocolate is getting more expensive.
A recent report from Wells Fargo found that dwindling supply around the world is causing cocoa prices to skyrocket.
Part of those supply issues have to do with climate, including tree diseases brought on by heavier rainfall.
Cocoa tree farmers in West Africa are also dealing with dry temperatures and extreme winds from this year’s El Niño.
The price of cocoa has more than doubled over the last year.
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