From WSJ

For years, the cocoa industry has worried that a plant disease could wipe out production in West Africa, the source of more than 70% of the key chocolate ingredient.

Now, Ebola, a disease that affects humans and which has had a devastating impact on people in parts of West Africa, is underscoring the need to look for new locations to grow cocoa.

The price of cocoa beans surged in September because of fears that the viral outbreak in Guinea and Liberia, which has killed nearly 7,000 people, could spread to top growers such as Ivory Coast and Ghana.

Those worries came on top of a period of dry weather in West Africa that some investors feared could damage the cocoa crop. As a result, prices hit a 3½-year high of £2,305 a metric ton in September.

Prices have eased as both Ivory Coast and Ghana, the world’s number one and number two producers respectively, remained virus-free. But the broader concerns remain.

“It made the industry realize that the dependence on a very concentrated geographical area to source beans is very dangerous,” said Doug Hawkins, managing director of Hardman Agribusiness consultancy.

Ivory Coast’s borders with both Guinea and Liberia are extensive and porous, with large numbers of people frequently crossing back and forth for personal and business reasons.

Mr. Hawkins said chocolate companies should start investing in other parts of the world, such as South America and Asia.

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