Lovers of chocolate: brace yourselves. The price of your favourite confectionery could rise as Ivory Coast and Ghana, the west African countries that account for almost two-thirds of the world's cocoa, join forces to push up prices.

Inspired by Opec, the oil producers' cartel, the two nations announced this month a fixed price premium of US$400 ($591.38) a tonne over the benchmark cocoa futures price, for every contract sold by either country for the 2020/21 season.

Mahamudu Bawumia, Ghana's vice-president, told a recent cocoa industry gathering that he was enthusiastic about creating what he called a "Copec" to champion the

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