Chocolate Consumption Boosts Demand
Sounds like the story behind the rising fuel costs. China’s chocolate consumption is increasing 10 to 15 percent a year The result is an increase in the demand for cocoa.
Another issue affecting the price of cocoa is the tightening supplies from Africa and growing demand for chocolate. In London cocoa climb to its highest since at least 1989.
So far this year this year, according to data provided by Beijing Orient Agribusiness Consultant Ltd., China’s imports of cocoa beans rose 13 percent to 15,543 metric tons, while imports of cocoa powder gained 22 percent to 6,342 tons,
Most Chinese chocolate products sold, worth about $2.9 billion a year, are in the medium to lower range of the market, containing less cocoa . Ironically, China’s per capita chocolate consumption ranks very low.
Crops in Ivory Coast, the world’s biggest grower, are threatened by disease has also added to the lowered cocoa supply.
Another issue affecting the price of cocoa is the tightening supplies from Africa and growing demand for chocolate. In London cocoa climb to its highest since at least 1989.
So far this year this year, according to data provided by Beijing Orient Agribusiness Consultant Ltd., China’s imports of cocoa beans rose 13 percent to 15,543 metric tons, while imports of cocoa powder gained 22 percent to 6,342 tons,
Most Chinese chocolate products sold, worth about $2.9 billion a year, are in the medium to lower range of the market, containing less cocoa . Ironically, China’s per capita chocolate consumption ranks very low.
Crops in Ivory Coast, the world’s biggest grower, are threatened by disease has also added to the lowered cocoa supply.
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