Australia’s cocoa industry is poised for significant growth, driven by rising demand for high-quality, locally made chocolate. With global supplies under pressure, producers in Queensland are aiming to seize the opportunity to fill a gap in the market.

Australian-grown cocoa beans are at the heart of the country’s premium chocolate industry, and demand for them is the highest it’s ever been.

“I’ve actually got a waiting list of people wanting to buy Australian cocoa beans, and we just don’t have enough to supply them,” says cocoa farmer Chris Jahnke.

Since the drop in cocoa supply, prices have increased sharply and made Australian-produced chocolate more competitively priced than ever.

“We have the demand, and that’s not just in Australia, we do get inquiries from overseas now that we’re becoming a bit more well-known,” says Jahnke.

Cultivated solely in far north Queensland, Australian cocoa production usually caters to a niche, boutique local market. Now, farmers are quickly expanding their plantations by planting more trees.

“We just don’t have enough beans, it’s as simple as that. So, we’re furiously trying to do the things that are necessary to expand,” says Jahnke.

In Europe, a new trade deal scheduled to take effect later this year may boost demand for Australian-grown cocoa even more.

“Effectively, the outline of the agreement is that any cocoa or other commodities which have come from deforested land after 2020 will effectively not be allowed to be imported into the European blocs,” explains Rabobank analyst Paul Joules.

And that will put Australian cacao in a very advantageous position.

“Deforestation to grow cocoa in Australia doesn’t happen, so right from the get-go, we’ve got a significant advantage in the compliance, especially into the European market,” concludes Jahnke.

This article was provided by The Associated Press.