Chocolate's Soaring Price Could Make It 'Like Champagne'

[yuiyoshida]

As cocoa prices surge to near-record highs on demand for emerging markets, chocoholics brace for a hike in price – and maybe even a different taste, as chocolate makers hunt out cheaper ingredients.

Cocoa futures are up 10 percent so far this year, hitting almost £1,900 on ($3,195) a ton in March. Last year prices rose 20 percent.

This growth has been driven by demand from emerging markets, with consumption of the sweet treat in China tripling over the last 4 years.

The price rise could lead to chocolate becoming more of a high-end luxury item, according to Edward George, head of soft commodities at Ecobank.

George said that while consumption in China is relatively small compared to Europe - even after the surge in demand - more and more cocoa is being ground in South East Asia and India. Cocoa beans are ground – or processed – into a thick paste that contains cocoa butter.

http://www.nbcnews.com/business/consumer/chocolates-soaring-price-could-make-it-champagne-n82821

[FarPoint]

1. I can survive without chocolate...

Coffee.... Not so easily.

[yuiyoshida]

3. I remember seeing those containers

of chocolate milk in a vending machine. I don't recall the price but it wasn't expensive. Can't even imagine it being around 20 dollars a container, but that just may happen some day.

[pinboy3niner]

4. Sadly, chocolate-covered espresso beans will be affected

[FarPoint]

5. Damn...another sacrifice!

[pinboy3niner]

2. Thanks, Obama!

[okaawhatever]

6. This is a resource war i'm willing to fight. What do you mean less chocolate? That's like some kind

of nightmare they used to tell kids happened in communist countries. Oh, the humanity....Life is too dang short to go without chocolate. Oddly, when I was reading over the Ukraine election information I found myself favoring the chocolate king. Not because I favor his foreign policies (I have no idea what they are, he could hate the US for all I know) but because he makes candy for a living. While it may be wholly wrong to secretly hope a chocolate candy maker will become the next President of Ukraine, I could think of a lot worse reasons to favor a candidate.