The Economics of Chocolate

Reading this comprehensive volume will tell you more about chocolate than you knew there was to know. It originates in a conference and is divided into five main sections: history, consumption, governance and industrial organisation, markets and prices, and new chocolate markets. As many people know, the history of chocolate in the West only goes back to the 1600s and was originally based on the drink. Only in the 1820s was an industrial process developed resulting in the familiar chocolate bar. Switzerland and Belgium are the best-known producer countries, and it is fascinating to discover how these have evolved over the last 100 years. Like coffee, the health effects of chocolate are controversial, but it seems that the dark version is the best, at around 70% - just how I like it… There is considerable discussion of supply chains and fair trade as well as markets and prices over time. Not surprisingly, the largest new markets are India and China where the demand is such that there could even be a world shortage.