The perfect cocoa storm that threatens to decimate a vital industry for Belgium. 60% of the world's cocoa production comes from Ghana and Ivory Coast, which are suffering.
El Niño has caused drier weather in West Africa, triggering pests and reducing arable land. The price of cocoa futures has exceeded $10,000 per ton, more than triple what it was last year. The crisis, hand in hand with obstacles in the global supply chain, geopolitical tensions, low investment, is contagious.