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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.
Theobroma cacao (cacao tree or cocoa tree) is a small (6–12 m (20–39 ft) tall) evergreen tree in the Malvaceae family. [1] [3] Its seeds - cocoa beans - are used to make chocolate liquor, cocoa solids, cocoa butter and chocolate. [4] Although the tree is native to the tropics of the Americas, the largest producer of cocoa beans in 2022 was ...
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.
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]
A bean-to-bar company produces chocolate by processing cocoa beans into a product in-house, rather than melting chocolate from another manufacturer. Some are large companies that own the entire process for economic reasons; others are small- or micro-batch producers and aim to control the whole process to improve quality, working conditions, or environmental impact.
The study provides insight into the earliest trade in what is now one of the world's most important cash crops. Today's sugary chocolate confections differ greatly from cacao's early uses.
A corresponding increase in cocoa butter prices made this, for a time, a food of the elite. ... World production of cocoa beans (1900–2016), by region, in tonnes.