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Economics for your Classroom from
Ed Dolan’s Econ Blog
Chocolate Lovers Keep
a Nervous Eye on Volatile
Cocoa Prices
Dec. 2...
The Long Rise in Cocoa Prices
 The world price of cocoa, the
chief ingredient in chocolate, has
been on a long upward tre...
Strong Income Elasticity
 One factor driving chocolate prices
higher has been strong income
elasticity of demand
 In the...
Question: How Does Positive Income Elasticity Affect Price?
If chocolate is a normal good, how will an
increase in consume...
Answer: How Positive Income Elasticity Affects Price
 If chocolate is a normal good, an increase
in consumer income will ...
Diseases of Plants and Humans
 Cocoa supply, like any farm product,
depends on growing conditions
 For example, in 2010,...
Question: How Do Natural Disasters Affect Price?
Suppose a natural disaster like plant or
human disease disrupts the cocoa...
Answer: How Natural Disasters Affect Price
 A natural disaster like a plant or human
epidemic will cause the supply curve...
Inelastic Demand and Short-Run Price Volatility
 Another factor contributing to the
volatility of chocolate prices is ver...
The Bottom Line
 The bottom line? You may soon
have to pay more for your
chocolate—or you may not
 The complexities of s...
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Diseases of Plants and Humans Chocolate Lovers Keep a Nervous Eye on Volatile Cocoa Prices

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Diseases of Plants and Humans
 Cocoa supply, like any farm product,
depends on growing conditions
 For example, in 2010, a virus causing
stunted shoot disease threatened the
crop in the Ivory Coast, the world’s
biggest producer
 The cocoa trees survived the virus,
but in 2014, Ivory coast was
threatened again, this time by the
ebola epidemic in neighboring Liberia
and Guinea that cut off an important
supply of migrant labor and cast a pall
of fear over the market Healthy Cocoa Pods
Photo source:
http://commons.wikimedia.org/wiki/File:Cocoa_Pods.JPG
Dec. 27, 2014 Ed Dolan’s Econ Blog

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  • cmoradellcasellas

    Dec. 29, 2014
  • JerryGatapia

    Dec. 28, 2014

Diseases of Plants and Humans  Cocoa supply, like any farm product, depends on growing conditions  For example, in 2010, a virus causing stunted shoot disease threatened the crop in the Ivory Coast, the world’s biggest producer  The cocoa trees survived the virus, but in 2014, Ivory coast was threatened again, this time by the ebola epidemic in neighboring Liberia and Guinea that cut off an important supply of migrant labor and cast a pall of fear over the market Healthy Cocoa Pods Photo source: http://commons.wikimedia.org/wiki/File:Cocoa_Pods.JPG Dec. 27, 2014 Ed Dolan’s Econ Blog

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