Investment Times

Ghana, the world's second-largest cocoa producer, is looking to delay the delivery of up to 350,000 tons of cocoa beans to the next season due to poor crop yields, according to five sources cited by Reuters. This development exacerbates the already troubling outlook for the global chocolate industry. Chocolate makers worldwide have been raising prices for consumers as cocoa prices have more than doubled this year. This spike follows a third consecutive year of poor harvests in Ghana and Ivory Coast, which together account for 60% of global cocoa production. Initially, the market estimated Ghana would defer about 250,000 metric...