the cocoa market
1.1 Cocoa is the third largest raw material market in the world
Cocoa is the most important powder obtained after a crushing operation of cocoa beans, cocoa tree fruits. The cocoa industry is very clearly divided into:
- The upstream part which consists of the exploitation of cocoa plantations and the recovery, drying, roasting and grinding of cocoa beans. This upstream primary industry is the quasi-monopoly of developing countries;
- The primary swallow part which consists in the transformation of the raw bean into "cocoa mass", a semi-finished product used by the entire chocolate industry (cleaning, drying, roasting, hulling and grinding) which sometimes takes place directly on the production site but which is much more often the preserve of Western multinationals;
- The secondary swallow part which consists of the production of chocolate and other by-products that are ultimately distributed to final consumers. These secondary and tertiary activities are largely concentrated in developed countries;
- Between these key segments of the cocoa value chain is of course the transport industry, particularly the maritime industry, which links the different geographies involved.
The world cocoa market is a globalized market with a typical functioning of commodity markets.
The production part is largely concentrated in Africa since Côte d'Ivoire and Ghana alone account for more than 60% of the world's cocoa production amounting to more than 4 billion tonnes . Other key countries in world production are other African countries, South American countries and Indonesia. It should be noted that 80% of world production comes from family plantations less than 10 hectares.
On the downstream side of the industry, europe and the american continent represent a major part of global processing and consumption. It should also be noted here that a few Western multinationals control a substantial share of the global final product market.
In France the chocolate industry represents about 400,000 tons for several billion euros in turnover and tens of thousands of direct jobs.
It should be noted that this globalized raw material market is largely marked by the impact of financial markets since world prices for physical exchanges and futures contracts for cocoa are fixed in the London and New York markets.
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