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Chocolate eaters drive record cocoa-output deficit: Commodities

Posted on 18 December 2013

Global cocoa supplies are headed for the longest production shortfall in more than five decades as chocolate demand surges in Asia. Cocoa use will top output by about 70,000 metric tons in the 12 months started Oct. 1 and deficits will persist through 2018, a six-year stretch that would be the longest since the data began in 1960, said Laurent Pipitone, head of statistics at the International Cocoa Organization in London.
Prices may rally 15 percent to $3,200 a ton by the end of 2014, according to the median of 14 trader estimates in a Bloomberg News survey………………………………………..Full Article: Source


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