27 May 2008 – The CEO of Green & Black's, a UK-based Cadbury subsidiary and organic chocolate producer, sees continued growth and opportunities in the organic chocolate segment, especially in the US, he said during an industry event.
A growing taste for organic chocolate is part of a wider so-called “premiumization” trend, whereby consumers base their purchases on factors other than price, such as quality and environmental friendliness. This trend is stronger in the US, according to Neil Turpin, Green & Black’s CEO, who sees expansion opportunities for his company there.
Growth in the organic chocolate sector is per necessity restricted by the challenges and costs involved in producing organic cocoa. Green & Black’s currently pays between $1,000 and $1,200 a tonne above the New York cocoa futures price for its organic cocoa, which it sources from Belize and the Dominican Republic.
The company is currently reviewing the possibility of establishing organic cocoa farms in new areas in order to guarantee sufficient supply of the raw material.