Ebola to make chocolate prices soar?

10/21/2014 // West Palm Beach, Florida, US // JusticeNewsFlash // Justice News Flash // (press release)

Jack Scoville, a senior market analyst at Price Futures Group, is quoted in the report as stating of the recent increase in cocoa contract prices, “The price made the move to three-year highs in response to the Ebola crisis, on fears that it could spread into Ivory Coast and Ghana.”

As noted in the report, a number of the workers in the Ivory Coast, where a lot of cocoa is harvested, migrated from Ebola-affected countries, and some suggest recently sealed borders may impact the amount of work that can be done in the upcoming season.

Edward George, head of group research for the pan-African bank Ecobank, is quoted as stating of its potential impact, “If Cote d’Ivoire’s agriculture sector loses all of its laborers — that will have a huge impact in terms of the crop and what can actually be harvested.”

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