What does Cacao Content (% Cacao) mean?

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As chocolate's reputation for being a superfood grows, we've seen numerous references to the cocoa health equation: higher percentage cocoa content = healthier.

Unfortunately, this isn't always true. Percentage of cacao content is a good indicator for where to start. But, it can be comprised of processed cacao "parts." Not all of these parts are created equal in terms of health effects.