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Did you know that there is a global cocoa deficit? I didn't! Who would think that there isn't enough cocoa being produced to supply the demand? Well it looks like the 2006/2007 cocoa growing season was severely affected by bad weather and according to the International Cocoa Organization's (ICCO) latest quarterly bulletin, the global production deficit is now estimated at 242,000 tonnes. That's a lot of cocoa.
So expect retail prices to go up over the next year as producers have to pay the raised prices from growers and struggle to buy enough to meet their needs.
