Quick Answer: How Do You Trade Cocoa?

Where does the best cocoa come from?

70% of the world’s cocoa beans come from four West African countries: Ivory Coast, Ghana, Nigeria and Cameroon.

The Ivory Coast and Ghana are by far the two largest producers of cocoa: together they cultivate more than half of the world´s cocoa..

Who regulates the trade of cocoa?

Who regulates the trade? TransFair USA, which is a third-party nonprofit Fair Trade certifier, ensures that farmers whomake the cocoa aren’t being screwed over by the big corporations. The FDA also regulates trade by ensuring food quality standards are met. 9.

What was cocoa first used for?

The Mayans created a ritual beverage made from ground cocoa beans, vanilla beans and other spices. It was shared during betrothal and marriage ceremonies. It was also used as a form of currency between their own civilizations and those they traded with.

Why is the trade of cocoa beans unfair?

On average, cocoa farmers earn just 6% of the final value a bar of chocolate. When terms of trade don’t work for cocoa farmers it exacerbates poverty and contributes to persistent problems like discrimination, exploitation and deforestation, which threaten the future of cocoa.

Is cocoa and coffee same?

Although we regularly use the terms coffee beans and cocoa beans, neither are actually beans. Coffee beans are the pits/seeds of bright red berries, and cocoa beans are seeds from the cocoa pod. However, we are going with the common vernacular and calling them beans.

What is the most expensive chocolate?

As we look at the the most expensive chocolates in the world, we’ll let you decide.DeLafée of Switzerland—Gold Swiss Chocolate Box with Swiss Antique Collectible Gold Coin. … To’ak chocolate. … Chocopologie – La Madeline au Truffle. … Hotel Chocolat – a luxury brand, without the price tag.

Where are cocoa futures traded?

Cocoa futures and options are traded at the ICE Futures U.S. and ICE Futures Europe exchanges. The futures contracts call for the delivery of 10 metric tons of cocoa and the contract is priced in US dollars per metric ton.

What are the 3 largest chocolate companies in the world?

2020 Global Top 100 Candy Companies | Candy IndustryCompany NameLocationNet Sales (Mil.)1. Mars Wrigley Confectionery, div. of Mars Inc. Hover for More InfoChicago, Ill., USA$18,0002. Ferrero Group Hover for More InfoLuxembourg, Italy$13,0003. Mondelez International Hover for More InfoDeerfield, Ill., USA$11,80049 more rows

Who is the largest producer of chocolate?

The top four countries responsible for the production of chocolate are the United States, Germany, Switzerland, and Belgium. It is estimated that, while Western Europe accounts for approximately 35% of total world chocolate production, the U.S. accounts for an additional 30%.

What is the best chocolate in the world?

Here are the best chocolates:Best with exotic flavors: Vosges Haut-Chocolat.Best French high-end chocolate: La Maison du Chocolat.Best affordable Swiss chocolate: Lindt Chocolates.Best affordable Belgian chocolate: Godiva Chocolates.Best Mexican chocolate: Taza.Best gourmet gift box: Jacques Torres.More items…•

Why are cocoa farmers poor?

As a result of low yields due to poor farming practices, aging trees and limited access to inputs such as fertilizer and planting materials. The average cocoa farmer’s income is significantly below the World Bank’s extreme poverty line of USD 1.

Why are cocoa farmers paid so little?

The consequences of price volatility, together with increasing production costs, are economic insecurity and impoverishment for millions of cocoa farmers. … With limited income and lack of information on market developments, the cocoa farmers and their families are the losers in a lucrative cocoa and chocolate industry.

How many cocoa beans does it take to make one chocolate bar?

A single pod can contain 20–40 beans, and it takes around 400 beans to make only one pound of chocolate! And now, let us follow the production of a chocolate bar from the bean to our taste buds…

Where did cocoa originally come from?

The cacao tree is native to the Amazon Basin. It was domesticated by the Olmecs (Mexico). More than 4,000 years ago, it was consumed by pre-hispanic cultures along the Yucatán, including the Maya, and as far back as Olmeca civilization in spiritual ceremonies.

How much money does a cocoa farmer make?

Fairtrade found average Ivorian cocoa farmer household income was $2,707 per year, with around $2,000 of income coming from cocoa, according to its survey of 3,202 Fairtrade certified farmers. This equates to total income of $0.93 per person a day.