Opportunities for Cocoa

In countries such as the U.S. and Switzerland, consumers prefer dark chocolate, driving up demand for cocoa worldwide.

Monday, October 7, 2013

According to market research by Euromonitor International, the value of a kilogram of chocolate in the United States reached a record high of $12.25 this year, up by 45% compared to the amount reported in 2007.

The increase in price has occurred because of a shortage of cocoa beans, which are roasted and ground to produce chocolate. It has even been forecast that the supply this year will not be enough to meet demand, mainly due to a drought in West Africa, where 70% of cocoa beans are produced.

This shortage comes at a time when Europeans and Americans are buying more chocolate, both for health reasons and because of how cheap it is.

Capital.com.pa reports: "Dark chocolate generally requires more cocoa beans per kilo than milk chocolate, so even small changes in purchasing trends can have a big impact on the cocoa futures market, which transacts $5.4 billion per year, indicated brokers and investors. "



More on this topic

Opportunity for Premium Cocoa in South Korea

March 2016

Promotion is being given to exports to China of organic cocoa-based foods, chocolate confectionery, unsweetened cocoa powder and cocoa paste.

From a statement issued by the Foreign Trade Office of Costa Rica:

Western foods are gaining increasing market share in South Korea, whose market depends heavily on imports, which have been boosted by growth in per capita spending on food.

Consumption of Premium Chocolates Growing in Chile

April 2014

The increase in the purchasing power of consumers explains the growth of this market segment, which in the last five years has doubled its size.

From a statement issued by the Costa Rican Foreign Trade Promotion Office:

It is estimated that the market for chocolate in Chile reached about USD 528 million in 2013, growing at average annual rates of close to 4% in volume and 8% in value.

Mexico Needs Cocoa

April 2013

In order to stimulate the Mexican chocolate industry the government of the country will be allowing cocoa imports .

From an article by the Costa Rican Trade Promotion Office (PROCOMER):

Chocolate is a product that Mexico supplies to the world and which is currently going through hard times in this country.

Cocoa Shortages and Price Increases Expected

November 2012

The sustained growth in demand for cocoa will continue next season, with prices exceeding $2,600 per tonne.

An article in Emol.com reports that "cocoa mills will increase production coming to a peak in the next two years, in order to meet the record demand for chocolate, in a time when the dip in supply from West Africa has resulted in the first seed shortages to have occurred in three seasons.

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