It will take every tool in the box to combat the effect of climate change on cocoa production, warn industry experts following the publication of research into the impact of rising temperatures on farmers in West Africa.
Leading cocoa processor Archer Daniels Midland (ADM) has announced it is kick-starting its Ivory Coast sustainable cocoa initiative – Serap – in Indonesia in a bid to boost cocoa quality from growers in that region.
Ivory Coast’s cocoa trade has been normalised, but uncertainly remains about the mid-crop, and and all eyes are now on the weather for the main crop, to be harvested this autumn, notes commodities specialist Rabobank it its latest review.
Another milestone has been achieved in the UTZ certified sustainable cocoa programme, with the first-ever shipment of cocoa beans from Ghana that meets that standard’s economic, environmental and social criteria.
With a larger crop and only modest growth in use, prices are expected to fall in 2011, according to Rabobank in its latest Agri Commodity market report. However further escalation of conflict in the Ivory Coast could send cocoa prices higher.