Confectioners across the country are loading up in order to satisfy your sweetheart’s sweet tooth this Valentine’s Day. Justin McClelland and Eric Schwartzberg for Dayton Daily News report that local candy makers say their business is resilient, even in the economic downturn. [Why Chocolate Prices are Up.]

As one shop owner says, chocolate is the sixth food group. And we’re entering into prime chocolate eating season: after Valentine’s Day comes Easter. In fact, Valentine’s Day is really only the year’s third-busiest day of the year for confectioners.

Perhaps the iPath Dow Jones AIG Cocoa ETN (NYSEArca: NIB) goes great with a box of candy (as long as it’s above its long-term trend line). [How to Follow the Trends.]

According to Mintel, chocolate sales around the world didn’t miss a step during the recession, and sales growth are likely to increase. Marcia Mogelonsky, global food and drink analyst at Mintel, noted that consumers who cut back on spending still scrounged up enough cash to indulge on the small and affordable treat. [Cocoa, something sweet for your portfolio.]

China and the Ukraine, two countries not thought of as chocoholic, saw chocolate sales rise last year by 18% and 12%, respectively. Other countries also saw increased consumption, such as in Britain up 5.9%, the United States up 2.6%, Argentina rising 1.8% and Belgium increasing by 3.2%.

Mintel’s Global New Products Database (GNPD) reports that companies are offering more chocolate varieties, with more new products hitting Latin America, Asia, the Middle East and Africa.

Cocoa prices are now at a 30-year peak, and the price level could force confectioners to switch to milk chocolate, reduce bar sizes and use cheaper ingredients, reports David Brough for Reuters. Cocoa prices almost doubled in the past two years alone as dwindling supplies and low investment by West African producers helped drive cocoa futures prices up to a high of $3,510 per tonne on Dec. 16.

For information on chocolate, visit our cocoa category.

• iPath Dow Jones AIG Cocoa ETN (NYSEArca: NIB): up 20.5% in the last year

Max Chen contributed to this article.

Although a slight drop in demand has been seen in the markets for cocoa, the commodity has risen to levels seen not seen in months. Worldwide, production is down, although cocoa is still used frequently. We eat it, drink it and use it as gifts, for comfort and for treats.

Julian Murdoch for Hard Assets Investor reports that cocoa futures have gained 20% since July, and despite some volatility, prices are poised to climb further. The world’s top five cocoa producers are Ivory Coast, Ghana, Indonesia, Nigeria and Cameroon. These five countries are responsible for roughly 70% of global cocoa production each year. Rain and disease, however, could interrupt production.

The Ivory Coast has been riddled with black pod disease that has affected crops, as has too much rain. If this continues, it could support the levels at which prices currently reside.

Meanwhile, sugar has been jarring retailers who want to keep consumers spending. For that reason, some retailers haven’t raised prices and have absorbed the extra cost themselves in order to keep shoppers buying candy and other sugar-heavy products, reports Karen Robinson-Jacobs for The Dallas Morning News.

The average price of a bag of sugar has gone up 9.2% from a year ago, and sugar futures are up 70% since April.

• iPath Dow Jones AIG Cocoa ETN (NYSEArca: NIB): up 12.7% year-to-date

• iPath Dow Jones AIG Sugar ETN (NYSEArca: SGG): up 63.8% year-to-date

For more stories about cocoa, visit our cocoa category.

Be sure to note the differences between ETFs and ETNs.

The cocoa ETN iPath DJ AIG Cocoa TR Sub-Idx ETN (NIB), currently down 13.6% year-to-date, tries to track the returns available through unleveraged investment in the futures contracts on the commodity from the index along with the rate of interest that could be earned on cash collateral invested in certain Treasury Bills. Cocoa demand has been down, with futures recently losing 3.9% as early speculative buying disappeared, reports Tom Sellen for The Wall Street Journal. Cocoa now goes for $2,353 a metric ton.

The cotton ETN iPath DJ AIG Cotton TR Sub-Idx ETN (BAL), currently up 15% year-to-date, seeks to reflect returns available through unleveraged investment in the futures contracts on the physical commodity from the index as well as the rate of interest that is potentially earned on cash collateral invested in certain Treasury Bills. According to Forrest Laws at the Farm Press, the cotton market is “biding its time” and futures are steadily climbing and could hit the high 60-cent range by December. Growers are worried about excessive rain in the Cotton Belt, which has delayed planting.

The coffee ETN iPath DJ AIG Coffee TR Sub-Idx ETN (JO), currently up 15% year-to-date, tries to mirror the returns available through unleveraged investment in the futures contracts on the commodity from the index along with the rate of interest that may be earned on collateral invested in specific Treasury Bills. Coffee prices could face a price spike and demand is on the rise, the Press Association says. Bad weather has led to a shortage of Colombian Arabica.

The carbon market ETN AirShares EU Carbon Allowances (ASO), currently down 4.4% year-to-date, intends to reflect the performance of a basket of exchange-traded futures contracts for European Union Allowances, which is an entitlement to produce 1 metric tonne of carbon dioxide that is transferable in accordance to the European Union Greenhouse Gas Emissions Trading Scheme.

On Wednesday, Republicans in the U.S. House of Representatives pushed to include nuclear power and “clean coal” as alternative energy resources used for electricity, reports Richard Cowan for The Washington Post. Democrats are gunning for renewable sources in wind and solar power.

Provisions still being negotiated include: Permits that may be given to oil refiners. A $17 billion fund for R&D of alternative fuels. Better trade protection for U.S. companies that would have to compete against foreign firms not compliant to carbon-emission rules. Cap and trade bill that may cause higher energy prices.

The PowerShares WilderHill Clean Energy (PBW), currently up 4% year-to-date, seeks to track the WilderHiill Clean Energy Index, which delivers capital appreciation through selection of companies focused on green and renewable energy sources and clen energy technologies.

The energy and climate bill circulating in the House of Representatives may include a scaled-back renewable power target of 15% by 2020, writes Ben Geman for The New York Times. This will require utilities to supply power from wind, solar and biomass sources.

The draft limits sources for biomass harvesting. Municipal solid waste will be counted among sources of renewable energy. Energy efficiency resource standard (EERS) are no longer included.

Max Chen contributed to this article.

Back in third-century Rome, the story goes, when Emperor Claudius II banned marriage because he thought single men made better soldiers, one passionate priest named Valentine continued to wed young lovers. Later imprisoned for his defiance, Valentine fell in love with a young girl who came to visit his cell. Before his death, the priest wrote her a letter–the first valentine.

We don’t suppose it said, “I choo-choo-choose you“?

Due to the love-inducing nature of chocolate, the sweet tops the list as the most romantic of all Valentine’s gifts. Erica Marcus for Newsday points out the Long Island chocolate shop Azure Chocolate will be favored among many to choose customized heart boxes, filled with gourmet chocolates and truffles.

According to MSNBC, the total value of shipments for firms producing chocolate and chocolate products in 2006 was $13.9 billion. Americans consumed 24.5 pounds of candy in 2007. Even though we’re in a recession, who can forgo the chocolate?

• iPath Dow Jones AIG Cocoa TR Sub-Index (NIB): up 2.7% year-to-date; up 37.7% over past three months

Nigeria is the world’s fourth-largest producer of the key chocolate ingredient, reports Dulue Mbachu for Bloomberg. The stepped-up production was as a result of government incentives. Production could have actually been higher, since the official tally doesn’t account for cocoa smuggled out of the country.

The top three cocoa producers are Ivory Coast, Ghana and Indonesia, according to the International Cocoa Organization. Cocoa prices have been on an overall uptrend in the last year, up 37% in July from a year ago. Prices are now at their highest levels in two months.

Sugar, in particular, is benefiting from a renewed interest in soft commodities. After Tuesday’s gain, sugar continued the upswing and went to a 21-month high, reports Nigel Hunt for Reuters. Arabica futures are turning higher, too, leading to a run-up in coffee prices.

Is anybody else hungry?

• iPath DJ AIG Coffee TR Sub-Index ETN (JO), up 1.5% since July 8 inception
• iPath DJ AIG Cocoa TR Sub-Index (NIB), down 4.5% since July 8 inception
• PowerShares DB Agriculture (DBA), up 11.3% year-to-date (holds 19.1% in sugar futures)
• UBS E-TRACS CMCI Food (FUD), up 5.6% since April 4 inception (holds sugar, coffee and cocoa)