Chocolate shortage could be averted, master pastry chef says

3.5 million tons of cocoa are produced around the world annually, but by 2020, consumers will demand 4.5 million tons, according to a CNBC interview with Jacques Torres, master pastry chef and entrepreneur.

Most of cocoa production — 80 to 90 percent — is done by small, family-owned farms. However, many of these farmers are abandoning cocoa for more profitable cash crops. 68 percent worldwide cocoa production was in Africa’s developing countries in 2012, but these farmers aren’t seeing profits that match the chocolate demand.

It doesn’t look like the demand for chocolate is going to decrease, with over a third of chocolate sales occurring around Christmas time. Torres says that more chocolate could be produced if cocoa farmers were paid more.

Via: CNBC > Pay farmers more and chocolate will flourish: Jacques Torres