Sweet tooth in China seen as boost for cocoa<\/p>\n
KUALA LUMPUR (Reuters): China's cocoa powder consumption may
\nreach 18,000 tons per year from 17,000 tons in coming years as
\nChinese develop a taste for chocolate, traders said on Friday.<\/p>\n
Chinese customs figures showed chocolate and cocoa products
\nimports reached 3,719 tons from January-May, up 10.8 percent
\ncompared with the same period last year.<\/p>\n
"Cocoa is very new for China. Big chocolate makers such as
\nCadbury and Mars have set up joint venture plants for domestic
\nconsumption...they have been in the market for only between three
\nto four years," said one trader in Guangdong province.<\/p>\n
"But I can see powder consumption growing because people's
\nexposure to chocolate is also growing," he told Reuters.<\/p>\n
Grinding capacity in China, the world's most populous nation,
\nis estimated at 28,000 tons, far below neighboring Japan at
\n48,000 tons or Malaysia, whose annual capacity of 165,000 tons
\nmakes it the world's eighth largest grinder.<\/p>\n
Traders said grinders in China produce up to 14,000 tons of
\ncocoa powder each year while imports stand at around 3,000
\ntons.<\/p>\n
Most of the powder is consumed locally, but 90 percent of
\nbutter produced by grinders is for the export market.<\/p>\n
Every year, grinders produce about 10,000 tons of butter,
\nwhich is used to make chocolate bars, jam and also for soap and
\ncosmetics.<\/p>\n
Traders said local grinders imported beans from Indonesia,
\nMalaysia and West African countries, adding they expected the
\ngrinding capacity to stay unchanged because China did not grow
\ncocoa.<\/p>\n
"China is a sleeping giant and there's a big potential there.
\nBut doing business could be tough because of the bureaucracy and
\nso on," said another trader in Malaysia.<\/p>",
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"sponsor": "Okusi Associates",
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