Why have chocolate prices surged since before Valentine's Day, hitting an all time high around Easter? Some analysts have predicted that cocoa may reach highs of $10,000 a ton in this historic period of inflation, growing in value at a rate faster than bitcoin.
Harvard Professor Carla Martin discusses the ongoing cocoa crisis affecting farmers, supply chains, and consumers, the historical and cultural trends underlying the production and sale of chocolate, and what the immediate commercial future of chocolate looks like. Martin is a Lecturer in the Department of African and African American Studies at Harvard University and is the Founder and Executive Director of the Fine Cacao and Chocolate Institute (FCCI).
As the global cocoa shortfall continues, prices will be passed onto consumers until farmers are able to regain full yields.
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