Weekly Report - 24 October 2013 (WR-13-42)

Ecuador is aiming to double annual cacao exports from some US$600m to US$1.2bn over the next decade to cash in on an increase in global demand for its quality Arriba Nacional cacao beans and overall rising prices. There is talk of a deficit of more than 100,000 tonnes of cacao this year in the global market. Commodity analysts, Mintec, reported this week that the raw material costs behind the production of a generic milk chocolate bar weighing 100 grams have increased by 28% in the year to October. In an attempt to “seize this historic moment” two chocolatiers set up a new ‘chocolate academy’ in Quito this month seeking to encourage Ecuadorean producers and consumers to learn more about chocolate.

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