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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.
The crop was a major foreign exchange earner for Nigeria in the 1950s and 1960s and in 1970 the country was the second largest producer in the world but following investments in the oil sector in the 1970s and 1980s, Nigeria's share of world output declined. In 2010, cocoa production accounted for only 0.3% of agricultural GDP. [1]
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 ...
[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]
[1] [8] Flavor cocoa producers are primarily considered Central and South America and the Caribbean. [10] Markets for flavor cocoa as of 2017 had experienced strong growth for two decades. [1] As of 2017, an estimated 9% of the world crop, around 263 000 tons of fine cocoa were produced. [2]
Recent years cocoa production has increased by nearly $22.6 million (2015). [2] In 2019, the country ranked 30th of the largest cocoa producers in the world. Cocoa production was at 1,499 t (1,475 long tons; 1,652 short tons) from an area of 2,000 ha (4,900 acres), at a yield rate of 7,499 hg/ha (10,705 oz/acre). [3]
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People around the world consume cocoa in many different forms, consuming more than 3 million tons of cocoa beans yearly. Once the cocoa beans have been harvested, fermented, dried and transported they are processed in several components. Processor grindings serve as the main metric for market analysis. Processing is the last phase in which ...