With world demand outpacing supply this could be the last Easter with real chocolate Easter eggs.
Why do I say this?
Well…. Finder.com.au is warning that the global cocoa crisis is set to worsen with chocolate supplies expected to run out by the end of 2015.
Despite well documented reports of a worldwide chocolate shortage by 2020, a new analysis has uncovered a much bleaker outlook for chocolate lovers, with critically low levels of cocoa threatening chocolate extinction by the end the year.
Demand outpaced supply in 2011, when there was 750,000 metric tonnes more chocolate consumed than what was produced in the same year, according to the World Cocoa Foundation.
Once again it’s China’s fault
This figure is set to worsen, with an estimated 4.4 million tonnes of cocoa production globally in 2014 and a growing demand for chocolate confectionary from China.
Chocolate sales in China averaged 10 percent growth year-on-year between 2006 and 2010, and is expected to reach US$1.8 billion (AU$2.35 billion) in 2015.
More than 70 percent of cocoa production is in Africa, while pests and diseases devastate an estimated 30-40 percent of global production each year.
While growth for cocoa consumption is strong in China, Switzerland consumed the highest amount of chocolate with 9kg per capita in 2014, followed by Germany with 7.9kg per capita.
Australia made the list at number 14, with 4.9kg per capita for the year.
In case you haven’t guessed it by now, April Fools!
Subscribe & don’t miss a single episode of michael yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to michael yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.