Demand and Supply in action - chocolate prices soar
Tuesday, December 13, 2011
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Here is a great demand and supply in action story to get students practising their diagrams and explaining them.
The price of chocolate is set to soar over the next decade. This is due to a worldwide shortage of cocoa beans.
In addition growing taste for cocoa in China, rising demand for dark chocolate and an awareness of its health benefits are forcing up demand.
Cocoa prices hit a 33-year high last year after a poor harvest in the Ivory Coast, which supplies two-fifths of world supply.
Dark chocolate has recently been considered the ‘healthier’ of the chocolates, with high levels of flavonoid antioxidants; it has also been found to lower blood pressure.
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