A global shortage of the key ingredient cocoa is set to drive up prices in Australia.
The advice came after future stocks in cacao - the bean roasted to make key chocolate ingredient cocoa - jumped to their highest level in 44 years on global markets this week.
Drew Maddison, founder of Melbourne's Ministry of Chocolate, told 9news.com.au prices by major manufacturers have been locked in for coming months. The hike in cocoa prices has been partly caused by the El Nino weather phenomenon in major cacao-growing countries, experts say.
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