Low demand for chocolate causes havoc in cocoa producing countries

Source: Provided by Moneyweb

Reduced demand for chocolate has negatively affected cocoa farmers. What has caused this?

Chocolate is consumed across the world. The consumption of chocolate translates into consistent demand for cocoa and improved income for cocoa producing farmers and countries.

A decreased demand for chocolate in the United States and Europe has resulted in approximately 100,000 tonnes of cocoa being stuck in the bush in Ivory Coast.

Reduced demand for chocolate has forced chocolate manufactures to request for delayed delivery of cocoa which has led to unsold beans pilling up.

Cocoa traders have expressed concern with the turn of events. Speaking in an interview, farmer Alfred Yawo expressed his fears.

“This situation has such a negative impact, yesterday we saw children in the streets because their parents can’t afford to send them to school”, said Alfred.

Cocoa producing countries will be hoping that demand for chocolate picks up again.