World Chocolate Day: Double the enjoyment for Kerala

Kochi: July 7 is dedicated as the day to celebrate the world’s most indulgent and delectable culinary invention: chocolate. It marks the supposed anniversary of chocolates' arrival in Europe in 1550.

The International Market Analysis Research and Consulting Group (IMARC) estimates that the Indian chocolate market will grow from $240 crores in 2022  to $410 crores (approximately Rs 33,500 crores) in 2028. As chocolate sales rise, the cocoa farmers in Kerala can take a sigh of relief as the state ranks second among the cocoa producers in the country.

The annual cocoa yield in Kerala is more than 10,000 tons which accounts for about 35% of the country’s total production. Andhra leads  with 40% of national production. Tamil Nadu and Karnataka are the other leading producers.

As the demand for chocolate increases, the cocoa farmers will gain increasing profits from the market. The average price of dried cocoa beans was Rs 170 for a kilo in 2021. This has now increased to Rs 215.

India garners an income of Rs 1,100 crore through the sale of cocoa beans and related products. According to the figures of the Directorate of Cashewnut and Cocoa Development (DCCD), about 10 cocoa value-added products related multinational companies are functioning in India.

Luxury in Chocolate

The growing popularity of luxury chocolates among consumers and the amalgamation of western chocolate flavors to Indian tastes is factored to be influencing the growth of the chocolate market. Chocolates are available in prices ranging from Rs 5 to Rs 10 lakhs. ITC’s Trinity Truffles Extraordinaire holds the Guiness World record for being the most expensive chocolate in the world, priced at Rs 4.8 lakh per kg.