Global cacao shortage leads to record-high cocoa prices

A global cacao shortage due to poor harvests in west Africa has led to record-high cocoa prices, exceeding $10,000 a tonne. Chocolate producers warn of price increases and potential reductions in bar sizes. Speculators have bet over $8bn on rising prices. Smallholder farmers in west Africa are struggling due to underinvestment. Researchers are seeking heat-resistant cacao varieties. Chocolate prices are expected to rise further.