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    THE NIBBLE’s Gourmet News & Views

    Trends, Products & Items Of Note In The World Of Specialty Foods

    This is the blog section of THE NIBBLE. Read all of our content on TheNibble.com,
    the online magazine about gourmet and specialty food.

NEWS: Bad Crops Lead To Higher Cacao Prices

Cacao BeansCacao beans: victims of El Niño.   According to the International Cocoa Organisation (ICCO), the world’s current cocoa shortfall is now 55% larger than previously thought, due to adverse weather conditions that caused crop reductions over the 2006/2007 season. The global production deficit is now estimated at 242,000 tonnes. Severe dry and windy conditions affected Africa at the end of 2006, and output declined 10% (Africa supplies 70% of the world’s cacao). Over the same period, El Niño temperature fluctuations led to crop declines of 8% in the Asia and Oceania region, and 6% in the Americas.
However, the ICCO states that demand has not decreased and remains at a record high. World cacao consumption has grown on average 3.8% each year over the last five years, and 2.5% over the 2006/07 season. This demand, combined with moves by some manufacturers to stocking up on cacao, has led to average price increases of 12%. Expect to see prices reflected in everything from bars to cocoa powder to baked goods.





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