The reported purchase of 240,100 tonnes of cocoa on the London futures market by a sole trader will not impact hugely on supply to industry, as cocoa processors have already shored up bean stocks for the next four months, claims the International Cocoa...
London cocoa prices hit a 23-year high at the end of December, but emerging questions about consumer demand could see prices fall in 2009, according to the International Cocoa Organisation (ICCO).
Troubles for West African cocoa supplies look set to continue following reports that the harmattan, a harsh, crop-damaging wind, has begun to sweep in from the Sahara.
Four hybrid cocoa species developed in Ghana to have improved
resistance to pest damage during storage have similar nutritional
properties to conventional cocoa, says a study that topples a
barrier to commercial trade.
The Ghanaian cocoa board is planning to significantly step up cocoa
production in the country over the next three years in a nationwide
shake-up of how the crop is farmed, according to press reports.
The anticipated drop in cocoa production this year has prompted US
flavor firm David Michael to renew a marketing push for its line of
cocoa extenders, which claim to help manufacturers cut costs.
