Photograph by Dave Thompson/AFP/Getty Images
Cuckoo for Cocoa
Emerging markets are developing a sweet tooth, and the result is chocolate sales higher than $100 billion for the first time. That's a record 3.9 million tons of ground cocoa, at a price projected to reach $2,700 a ton in early 2012. "Grindings will rise again this year because demand continues to grow in emerging markets, even as economies slow in Europe and the U.S.," Kona Haque, an analyst at Macquarie Group in London, told Bloomberg News in November. "The Asians and Latin Americans have finally found a taste for chocolate-based confectionery such as biscuits and ice creams."