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Long the world’s undisputed cocoa powerhouses, accounting for more than 60 percent of global supply, Ghana and its West African neighbour Ivory Coast are both facing catastrophic harvests this season.
Expectations of shortages of cocoa beans – the raw material for chocolate – have seen New York cocoa futures more than double this year alone. They have hit new record highs almost daily in an unprecedented trend that shows little sign of abating.
More than 20 farmers, experts and industry insiders told the Reuters news agency that a perfect storm of rampant illegal gold mining, climate…
