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Cocoa beans within a pod. Theobroma cacao is a small tree grown within 20° north and 20° south of the equator. Its fruits, cocoa pods, grow along its trunk and thicker branches, [1] which when ripe are cut down with knives and machetes. These pods are cut or cracked open using knives or clubs, revealing 30–45 oval beans (the seed of the ...
Cocoa beans, cocoa butter and cocoa powder are traded on futures markets. The London market is based on West African cocoa and New York on cocoa predominantly from Southeast Asia. Cocoa is the world's smallest soft commodity market. The futures price of cocoa butter and cocoa powder is determined by multiplying the bean price by a ratio.
As of 2022, the Ivory Coast was the world's largest exporter of cocoa beans, with exports totaling $3.33 billion. The leading markets for Ivorian cocoa beans were the Netherlands, Belgium, the United States, Malaysia, and Germany. Notably, Brazil, Canada, and Mexico emerged as the fastest-growing export markets between 2021 and 2022.
Cocoa prices have doubled since the start of the year, as crops in West Africa — which produces 80% of the world’s cocoa — have been hit by droughts made worse by climate change.
In the 18th and 19th centuries, Nacional was considered by many European chocolatiers to be the most coveted source of cacao in the world because of its floral aroma and complex flavor profile. After an outbreak of disease in 1916 and germplasm from foreign cacao varieties was subsequently introduced, some experts in the 21st century had ...
The cocoa tree was first grown successfully on the island of Príncipe in 1824. [1] A dormant volcano, Príncipe is particularly well-suited for the cocoa tree because of its volcanic soil. [32] Cocoa plantations cover 25,000 hectares (62,000 acres) of the island of São Tomé, mainly in its northern and central areas. [33]
Cocoa prices have skyrocketed recently as unfavorable weather has led to poor yields and a worsening supply crunch. That’s made chocolates more out of reach for the average shopper in grocery ...
While cocoa production in the site of Chuao can be traced back to 1591, [2] [3] the town itself was founded in 1660. [1] From 1591 onwards, the area was home to a number of haciendas which grew cocoa. [2] During colonial times, a number of slaves were imported to the village from Africa to increase cocoa production on said haciendas. [1] [2]