Cocoa imports to the country have increased considerably due to rising consumption and shortfall in cocoa production. Though the cost to import cocoa is much higher, chocolate companies are not deterred as the demand for chocolates are increasing and the quality of imported cocoa beans are better. The annual cocoa import to the country was 7026 tons in 2008-09, but this year it is expected to up to 10,000 to 15,000 tons.
The global cocoa price is around $3321 per ton. The domestic price of cocoa dry beans is around Rs.160 per kg since January. Last year the prices were around Rs.110 to Rs.120 per kg.
Cadbury India ED Finance and Commercial, Mr Rajesh Garg said, “the company buys about 8000 to 10,000 tons locally and similar quantity via imports annually. The figure is growing at a rate of over 20 percent”. The demand for cocoa beans and its high prices have motivated more people to cultivate cocoa. Kerela, Karnataka and Andhra Pradesh are some of the producers of the cocoa. Tamil Nadu has also allocated around another 8000 hectares to the existing area of 34,049 hectares for cocoa cultivation.
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