Global chocolate candy spending exceeds 100 billion US dollars for the first time

International media reported that the global consumption of chocolate candy has exceeded the $100 billion mark for the first time in history. However, due to the poor harvest in West Africa, the world's largest producing area, the supply shortage of cocoa, the main raw material for chocolate, will be further highlighted. In the year ending in September next year, global cocoa supply will decline by 7.7%, which will cause the cocoa supply surplus to drop sharply from 43.4 million tons a year ago to 32,000 tons. According to estimates by Goldman Sachs, cocoa prices will rise 12% in the next three months to reach $2,700 per ton.

As supply shortages further intensified, and the world’s largest cocoa producer, Côte d’Ivoire, broke out again with a civil war, global cocoa supply has fallen by a massive 36% since March this year. On the other hand, the global consumption of chocolate confectionery has increased year by year. According to data released by Euromonitor International, the global consumption of chocolate confectionery has increased by 34% over the past five years to US$102 billion.

Macquarie Group analyst Kona Haque said: "Despite the economic downturn in Europe and the United States, the rapid growth of emerging markets will continue to drive global demand for cocoa. For countries such as Asia and Latin America, chocolate taste has become a cookie. Is an important species in ice cream."