Breaking News on Confectionery & Biscuit Processing

News > Commodities

News in brief

Chocolate will never be a niche luxury: ICCO executive director

Chocolate will stay mainstream, says ICCO head
Chocolate will stay mainstream, says ICCO head

The executive director of the International Cocoa Organization (ICCO) has rejected suggestions that chocolate could become an expensive luxury in the face of a global cocoa deficit.

“Chocolate will never be a luxury item. Chocolate will remain accessible to most consumers – the average milk chocolate with 20-30% cocoa will always be present on the market,” said Jean-Marc Anga at the World Conference 2014 in Amsterdam

In a guest article for ConfectioneryNews in April, Han De Groot, executive director of UTZ Certified, said that chocolate risked becoming a small and expensive niche product unless more was done to help farmers escape poverty.

Anga rejected the notion but said that the industry could not shy away from deficit forecasts. “It’s justified to say that we need more cocoa to meet future demand.”

ICCO believes the cocoa deficit will continue and cocoa prices will increase. Its latest prediction is for a 30,000 metric ton (MT) supply surplus for the current season 2013/14, but a deficit slightly under 100,000 MT for the next crop year.

However, the organization said that predictions by companies such as Barry Callebaut and Mars of a 1m MT shortfall by 2020 were overstated.

Post a comment

Comment title *
Your comment *
Your name *
Your email *

We will not publish your email on the site

I agree to Terms and Conditions

These comments have not been moderated. You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment. Any comment that violates these terms may be removed in its entirety as we do not edit comments. If you wish to complain about a comment please use the "REPORT ABUSE" button or contact the editors.

Related products

Key Industry Events

 

Access all events listing

Our events, Events from partners...