Cocoa crisis: Your favourite piece of dessert is going to cost more

Most of the world's cocoa is grown in west Africa, with Ghana and Ivory Coast the two leading supplier nations. However, production has not matched market demand for the past three years. — dpa

COCOA bean prices have doubled since the start of the year, raising the prospect of dramatically pricier chocolate during two of the world’s biggest sweet-filled religious festivities, Easter and Eid.

Mondelez, which lists Cadbury and Toblerone among its brands, said in a recent earnings call that it would have to raise prices of its chocolates due to cocoa inflation. CoBank, a United States-based co-op lender to agribusinesses, warned in a report that “additional price hikes for chocolate confections throughout the year are likely.”