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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.
Theobroma cacao (cacao tree or cocoa tree) is a small (6–12 m (20–39 ft) tall) evergreen tree in the family Malvaceae. [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 ...
The World Cocoa Foundation provides significantly lower figures for Indonesia, but concurs that it is the largest producer of cocoa beans outside of West Africa. [9] Large chocolate producers such as Cadbury , Hershey's , and Nestle buy Ivorian cocoa futures and options through Euronext whereby world prices are set.
Won gold at the world finals of the International Chocolate Awards for its Chocolate Madagascar Fine Milk Chocolate 50% Cocoa Bar. [5] Also, Academy of Chocolate global winner. Chocolala: Estonia (Tallinn) 2013 Single origin chocolate bars (dark, dark milk, coconut milk, sugar-free), roasted cocoa nibs A small-batch chocolate maker.
[144] [145] That year some 50 million people around the world depended on cocoa as a source of livelihood. [146] As of 2007 in the UK, most chocolatiers purchase their chocolate from them, to melt, mold and package to their own design. [147] As of 2012, the Ivory Coast is the largest producer of cocoa in the world. [148]
Cocoa bean, the seed from the tree used to make chocolate; Cacao paste, ground cacao beans. The mass is melted and separated into: Cocoa butter, a pale, yellow, edible fat; and; Cocoa solids, the dark, bitter mass that contains most of cacao's notable phytochemicals, including caffeine and theobromine.
Cocoa farms are generally very small, family owned and operated businesses. There are approximately 4.5 million cocoa farms around the world. The majority of cocoa farms are located in Ivory Coast and Ghana. [2] In Ghana, Cocoa contributes 64% of all exports. [6] Traditional cocoa farms are planted in the shade among other crops and trees.
The International Cocoa Organization (ICCO) is a global organization, composed of both cocoa producing and cocoa consuming countries with a membership. Located in London, ICCO was established in 1973 to put into effect the first International Cocoa Agreement which was negotiated in Geneva at a United Nations International Cocoa Conference.