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"Last year, the world ate roughly 70,000 metric tons more cocoa than it produced. By 2020, the two chocolate-makers warn that that number could swell to 1 milli
by vosper 12y ago
"Last year, the world ate roughly 70,000 metric tons more cocoa than it produced. By 2020, the two chocolate-makers warn that that number could swell to 1 million metric tons, a more than 14-fold increase; by 2030, they think the deficit could reach 2 million metric tons."
How can the world be eating more cocoa than it produces? I can imagine there might be stockpiles, but surely they're gone if we're talking about year-over-year deficits.
I think the article means that the demand for chocolate in 2020 could be 1 million metric tons more than supply. So prices will go up, and there will be an economic incentive for suppliers to increase production and for manufacturers to innovate with new products and efficiencies. Seems pretty normal.
- fennecfoxen 12y agoTo be pedantic: if you're going to be all Economics about it, you can't say the world demands 2 million metric tons, because demand is a function of price. If the price goes up the quantity actually demanded will go down...
- masklinn 12y ago> for manufacturers to innovate with new products Oh don't worry they're already "innovating", though those filthy stinking regulations get in the way and stops them from innovatively selling cocoa-flavored vegetable oil as chocolate. Damn you, regulations!