A while back the msm were warning us about the coming shortage of chocolate, or more specifically, cocoa beans, due to climate change. Seems that the predicted warming trends would shrink the territory in which the beans can grow, and thus, a shortage.
But it's always dangerous to put a date in doomsday predictions, and 2020 is coming right up. To its credit, even the left leaning site Snopes.com was cautioning that we should wait for more information in Worldwide Chocolate Shortage? Rumor: The world will run out of chocolate by 2020.
Sure enough, the predictions are looking very wrong. See What Chocolate Shortage? Cocoa Prices Steady as Record Output Projected. Paywalled but excerpted here. To wit:
The world appears to have averted a chocolate shortage, upending the rally that made cocoa the best-performing commodity in 2018.
Last year, prices of cocoa futures soared by 28% on repeated warnings by analysts that chocolate would be in limited supply in 2020 because of a scarcity of cocoa beans.
But cocoa prices are relatively unchanged since the start of 2019. As of Tuesday, they were trading on the Intercontinental Exchange in New York at $2,360 a metric ton, down 2.3% this year.
Prices have steadied as weather in major cocoa-growing regions has been conducive to production. Supply is outpacing demand for a third year in a row, according to the latest projections from the International Cocoa Organization.
Oh, that chocolate doomsday? It's been postponed to 2050.
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10:54 AM 6/9/2019
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