Shortage is driving up chocolate prices

It looks like your Valentine’s Day chocolate is going to cost you more.

The Wall Street Journal reported on Thursday that cocoa -- the raw material used to make chocolate hearts and tarts -- is diminishing due to adverse weather conditions and poor farming techniques.

Combine that with the fact that the demand for the sweet stuff hit an all-time high last year, and the world has an imbalance that has forced the price of the commodity almost 40 percent since 2012.  Helping to drive demand are countries like China and India that have disposable income to afford the treats.

Chocolate makers are warning, once again, that chocolate will be increasingly rare unless something is done. In 2014, Mars and chocolate giant Barry Callebaut projected a global shortage by 2020 without industry cooperation.

Read More @ FOX News

Up Next:


  • Popular

  • Recent

WATCH FOX 7 NEWS LIVE

FOX 7 News streams at the following times (all times Central):


Monday - Friday

4:30 a.m. - 10 a.m.

12 p.m. - 12:30 p.m.

5 p.m. - 6 p.m.

9 p.m. - 10:30 p.m.

Saturday

6 a.m. - 8 a.m.

6 p.m. to 6:30 p.m.

9 p.m. to 10 p.m.

Sunday

6 a.m. - 8 a.m.

5 p.m. to 5:30 p.m.

9 p.m. to 10 p.m.



Schedule subject to change in the event of network sports coverage.

We also stream press conferences and other breaking news coverage from time to time. When we are not in a live newscast, you will see replays of the most recent broadcast.

To enter full screen Mode click the button.

For closed captioning, click on the button while in full screen mode.

Desktop/tablet users: To choose the stream's video quality, click on the button (while in full screen mode) and choose from 432p or 270p.

Mobile users:The video quality default is to your phone's settings.

Please allow time for buffering. If the stream stalls, refresh your browser. Thanks for watching

Stories You May Be Interested In - Includes Advertiser Stories