There's an unsavory forecast for one of chocolate's key ingredients: cocoa. Bad, dry weather conditions are shrinking the cocoa supply, which eventually affects American consumers.
The price of cocoa is up 12% so far this year. That eats into the profits of chocolate makers and forces them to consider hiking prices on chocolate bars, balls, sauce and everything else.
It's deja vu from last year. Cocoa prices were up 13% in the first half of 2014. That — along with rising milk and nut prices — prompted Hershey (HSY), Lindt and other chocolate makers to raise their prices about 8% on average last July.
To read the rest of the story, please go to: CNN Money
