Valentine’s Day is not limited to the borders of the United States, rather, this day of love infiltrates all corners of the world, giving the cocoa-related exchange traded note (ETN) a chance to sweeten everyone’s day. Valentine’s Day is a $14.7 billion industry in the United States alone, and other countries are taking to the charms of cupid as well. Melanie Linder for Forbes explains the history of Valentine’s Day:
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
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