Chocolate prices set to fall as cocoa surplus seen at six-year high!!!!! GOOD NEWS!

[GennGreymane]

http://www.stuff.co.nz/business/worl...t-sixyear-high

Chocolate prices are set to fall as the world cocoa market shifts from a deficit to the largest surplus in six years, according to the International Cocoa Organisation.

Global production will top demand by 264,000 metric tons in the 2016-17 season, which started October 1, the London-based group said Tuesday in a report. The deficit was 196,000 tons in the preceding year.

World output is seen rising almost 15 per cent to 4.55 million tons in the current season, with gains in Ivory Coast, the top grower, as well as in Ghana, Indonesia and Ecuador.

In contrast, worldwide grinding of cocoa beans - a measure of demand - will advance 2.9 per cent to 4.24 million tons, the group said.

The shift in the supply and demand dynamics of the cocoa market has weighed on prices in the past 12 months.

Cocoa futures have slumped about 35 per cent in New York over the period. If that decline is sustained in the months ahead, prices for finished cocoa and chocolate products are expected to drop, thereby supporting consumption, the group said.

"It may take time for the reduction in the cost of the cocoa beans to be passed on to consumers," the organisation said in the report.

* Ivory Coast is forecast to collect 1.9 million tons in the current crop year, up 20 percent from a year earlier.

* Ghana's crop is seen at 850,000 tons; Indonesia's crop will rise slightly to 330,000 tons; Ecuador's will rebound to 270,000 tons; Nigeria's will rise 15 per cent to 230,000 tons; and Cameroon's will increase to 250,000 tons.

* "The outlook for processing activity during the current season seems more favourable than during the two previous seasons," the ICCO said.

* Grinding will increase in producing countries but stagnate in Europe and the Americas.

FINALLY SOME GOOD NEWS!

[Breccia]

Chocolate is an eco-friendly renewable resource.

"Resource for what?"

Me. It powers me.

[Halicia]

Wow, nice. I thought cocoa was headed into a deathspiral where demand keeps outstripping supply.

or in a word....

Sweeeeeeeeeeeeeeeeeeeeeeeeeeeeet.

[Wyrt]

Cool. Maybe they'll put actual cocoa in US chocolate now.

[belfpala]

Cool. Maybe they'll put actual cocoa in US chocolate now.

I'm hedging my investment by stocking up on Nutella.

[Blobfish]

Wondering why the price of Tim Tams are under $2 at the local supermarket

Good News..

Although I hear that Coffee prices could be going up

[Deleted]

But...but...the media said chocolate will disappear because cocoa plants are dying off.

[Deleted]

Easy fix: stop putting shit in chocolate, use more cocoa. Products that claim to have chocolate but contain very little or no cocoa should be required to be labeled as fake shit.

But then companies that produce fake shit like Nutella would go bust.

[Micronetic]

Easy fix: stop putting shit in chocolate, use more cocoa. Products that claim to have chocolate but contain very little or no cocoa should be required to be labeled as fake shit.

But then companies that produce fake shit like Nutella would go bust.

Even if Ferrero or Nutella claim they have chocolate in it, the main source is hazelnut, it even says it on hteir website: "Hazelnut-Spread"

[Unhinged]

It won't drop it will just give companies extra profit and they will raise the price when it goes back up to keep the same profit margin they now will get.

[GennGreymane]

Wondering why the price of Tim Tams are under $2 at the local supermarket

Good News..

Although I hear that Coffee prices could be going up

ive been buying them

SUCH A TIME TO BE ALIVE!

[Deleted]

One of the most controversial resources becomes cheaper and it's good news? That's like being angry when the prices of smartphones and tablets raise for hundred(s) of dollars because the war in Kongo finally ended and they finally get humane work environments.

[Deleted]

Even if Ferrero or Nutella claim they have chocolate in it, the main source is hazelnut, it even says it on hteir website: "Hazelnut-Spread"

I am one of the managers for the UK Transport division of Ferrero / Thorntons and we got a massive goody bag this Christmas. It was the first time I'd ever tried a lot of their chocolate/nut products and they were spot on. Made good Xmas gifts as well lol

[ItsRainingMetal]

One of the most controversial resources becomes cheaper and it's good news?

Absolutely.

[dicertification]

Just like oil. Nobody cares where it came from, as long as we have it.

When expecting the price to drop, I imagine it'll be as minor as crude dropping. Don't notice it so much at the pump!