Chocolate lovers, some bad news could be in your future as there may be a chocolate shortage due to over consumption, two of the largest chocolate manufacturers said.

By 2020, there is projected to be a 1 million metric ton chocolate deficit. A projection by chocolate companies Mars Inc. and Barry Callebaut predict that by 2020 there will be a global chocolate shortage, according to the Washington Post's Wonkblog.

There has been a steady 50 years of chocolate deficits -- when farmers produce less cocoa than what is consumed -- and the number is projected to increase. Last year, we ate 70,000 metric tons more chocolate than what farmers harvested. In five years, it will be a million metric ton difference.

Contributing to the decreasing cocoa harvest are changing climates in West Africa, where around 70 percent of cocoa comes from, and from a fungal disease that kills the cocoa tree. The International Cocoa Organization estimates between 30 and 40 percent of global production has been exterminated.

However, to counter the increasing problem the two aforementioned companies are teaming up and are both part of the CocoaAction initiative, according to the Star Ledger. The two companies and the initiative will find ways to offset the potential future shortages. There are already plans to support 300,000 West African cocoa farmers.

"We have a real opportunity to transform this industry to the good of millions of farmers and their families," said Barry Parkin, the chairman of the World Cocoa Foundation, and the chief sustainability officer for Mars. "We now need to move quickly to action and implement in cocoa-growing communities."

Yet, all this speculation may be off. Although the International Cocoa Organization warned against the fungus' impact on cocoa production, according to USA Today, they say that the cocoa deficit will not change much these coming years.

There are bound to be small deficits and surpluses in cocoa production, but these are not forecasted to be drastic enough to warrant any panic.

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