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Bloomberg
Demand from Asia’s growing legions of chocoholics has outpaced the ability of local farmers to supply cocoa beans, prompting a surge of shipments into the region from Africa and South America.
Indonesia, the top producer and processor in the area, imported about 240,000 metric tons of beans last year, a record, and may buy more in 2019,
said Piter Jasman, chairman of the country’s Cocoa Industry Association.
Malaysia boosted shipments 10 percent to 345,000 tons last year, cocoa board data show.
Bean output in Indonesia has shrunk by half in the past decade as farmers battle crop disease and aging trees, and switch to more profitable crops.
That’s turned the country into a net bean importer from major exporter as processing capacity expanded, with overseas purchases more than doubling in five years. In Malaysia, there’s a similar tale, with output dwindling to less than 1,000 tons from around 100,000 tons two decades ago, according to board data, as farmers turn to palm oil.