Chocolate's soaring price could make it "like champagne"

George said that while consumption in China is relatively small compared to Europe – even after the surge in demand – more and more cocoa is being ground in South East Asia and India. Cocoa beans are ground – or processed – into a thick paste that contains cocoa butter.

“If prices go up too much (chocolate makers) shift to substitutes and instead of cocoa butter, which gives that melt-in-the-mouth flavour, you can use palm oil, or even cotton seed oil,” he said.