Surging cocoa supplies did little to prevent front month prices for cocoa (cocoa futures) creeping up by 4 per cent throughout August, according to Euromonitor. “The big surprise has been that this rise has taken place on the back of strong supply projections,”...
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.
Fears that almost 500,000 tonnes of cocoa beans stored in warehouses in the Ivory Coast would deteriorate are now subsiding with the perception that a political resolution is imminent in the cocoa growing country, according to Rabobank
There is still sufficient cocoa available on the market, despite political turmoil in the Ivory Coast situation, the International Cocoa Organization (ICCO) said yesterday, although there are concerns over cocoa damage over long storage periods.
Cocoa prices have remained stable over the past two weeks despite the Ivory Coast export ban with industry analysts citing good industry supply cover and access to plentiful crop from Ghana as factors for the lack of price volatility.
Lack of clarity on the implications for the cocoa industry of the financial penalities imposed by the EU on the Ivory Coast has prompted trade representatives in the bloc to seek additional information from the Commission.
Cargill Cocoa and Chocolate is aiming to have 10,000 tonnes of UTZ-certified cocoa available for the market in 2010, as the first two Ivory Coast cooperatives achieve certification and others are expected to get there soon.
Democrats Tom Harkin and Eliot L. Engel wrote a hard-hitting piece
in the LA Times on Monday about the human cost of the chocolate
trade, but the cocoa industry has hit back by reaffirming its
commitment to responsible farming.
Hanging as a persistent threat to the chocolate industry witches'
broom disease is capable of wiping out entire cacao crops and
sending the price of chocolate rocketing. Despite ongoing research
into the threat confirmed by the...
War and disease have marked volatile prices for cocoa in the past
three years, peaking at 17 year highs in 2002 when the Ivory Coast
?source of two fifths of the world cocoa crop ?endured civil war.
Research into genomes could contribute...