Americans eat roughly 10 pounds of it a year per person. The Swiss eat nearly 20 pounds per person per year, and people in Germany, Ireland and the United Kingdom eat 16 or 17 pounds a year, according to figures from market research company Euromonitor International. The multi-pronged problem facing the chocolate industry starts at the root of the process: Defenseless cocoa trees, multiple threats From drought to pests to fungus, cocoa trees and their precious pods are susceptible to myriad unpalatable threats.
Chocolate Prices on the Rise Chocoholics: Chocolate Prices on the Rise Wednesday, 19 November Scandals, government intervention, recessions, price manipulations. Journalists have their hands full reporting about currency collapses, oil embargos and stock IPOs. Chocolate, the dainty of choice for chocolate aficionados, children and depressives everywhere, has become increasingly expensive and predictions for the future are not very promising.
The commodity's escalating price has been led mostly by heightened emerging market demand, with consumption of the sweet treat in China alone tripling over the last 4 years.
This has led some analysts to believe chocolate may eventually become a luxury item like Champaign. According to Edward George, head of soft commodities at Ecobank, consumption in China is relatively small compared to Europe despite the surge in demand.
The Chinese only consume per capita about 5 percent of what the average Western European eats. Dark chocolate, which contains a good deal more cocoa by volume than traditional chocolate bars -the average chocolate bar contains about 10 percent, while dark chocolate often contains upwards of 70 percent- is rising in popularity, increasing even more the need for cocoa butter.
Dry weather conditions The continued surge in the cocoa price can be attributed to several factors. Weather conditions, such as the drier weather expected in West Africa where around 70 percent of the world's cocoa is grown, is expected to impact heavily on production.
If that happens, we are going to see prices shoot up. In addition, recent currency moves have hit the price of cocoa.
A stronger BP makes cocoa more expensive to buy. The shortage in cocoa may be more disastrous than some believe. A recent report released by the Washington Post cited data showing that the world consumed more than 70, metric tons of cocoa above the amount produced in Sinceit has zoomed by more than 60 percent, forcing chocolate makers to hike up retail prices.
Bythe gap could explode to 2 million metric tons. If the shortage continues, and if prices continue to rise, people seeking emotional pleasure from chocolate may find it far too costly and will not be able to rely on it for their daily dose of nirvana. Hope breads eternal, however, and when it comes to our velvety brown tablet of indulgence we look for positive signs wherever we can.
And indeed, there may be some hope on the horizon. According to the Post report, despite the current drop in the amount of grinding done in Europe, the process has been shooting up in Indonesia which has now become a net importer of cocoa.
In addition, an agricultural research group in Central Africa is developing trees that can yield up to seven times the amount of beans traditional cocoa trees can produce.
So hang in there, chocolate lovers.Chocoholics, beware! The chocolate shortage everyone was talking about for the past few years may be closer than you think.
The demand for more chocolate is only making production problems worse for the industry, exponentially in this case. No Comments on "The chilling future of chocolate" Leave a Comment Cancel reply. The Chocolate Production industry market report contains strategic analysis of the key drivers influencing the industry.
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Five years ago, analysts predicted the world would run out of chocolate because people in China and India would become rabid chocoholics. WOMEN STUDIES ECO-FOOTPRINT PROJECT Topic – Cocoa Beans Production Process Chocolate is a key ingredient in many foods such as milk shakes, candy bars, cookies and cereals.
It is ranked as one of the most favourite flavours in North America and Europe. The future of shopping is here!
Janel Parrish of 'Pretty Little Liars' shares her holiday faves in new videos that let you watch and shop. LONDON: India is a nation of chocoholics and the country has one of the world's fastest growing chocolate markets which posted a huge 13 per cent sales growth last year, according to a research.