Several news sources reported that cocoa futures hit a 23-year high in London yesterday with a price of £1,824.33/ton. However, the U.S. price stayed more moderate with a price of $2,666/ton, quite a bit below the July high above $3,000/ton. The reason for this discrepancy lies in the appreciation of the dollar since July.
Cocoa Deliveries Continue to Lag in West Africa
Global cocoa prices seem to be on an upswing after riding the speculative roller coaster up and down earlier this year. The New York closed for March cocoa reached $2,610/ton, a new high after falling as low as $2,080 in November. This time around, though, that increase seems to have some real basis on the ground. There is less cocoa to be had.
Continue reading “Cocoa Deliveries Continue to Lag in West Africa”
Where is Cocoa Processed?
I’ve written earlier about a new cocoa processing plant being opened in Ghana. Processing refers to roasting, winnowing, cracking and grinding the cocoa beans. It also can include pressing the cocoa to extract cocoa butter and produce cocoa powder.
To the left is a breakdown of the top ten cocoa processing countries for the last cocoa year. Despite the preponderance of industrial countries at the top, there is a solid presence of cocoa producers among the top ten countries.
Some Background on Cocoa Pests and Diseases
Throughout the blog, I have mentioned the fickle nature of the cocoa tree. It is prone to diseases and a ready target for various pests. These become especially pronounced when the trees age and when farms are replanted. Many of the articles I cite as sources for my posts also mention these problems. So here’s a run down on the most common problems the cocoa tree faces.
The information below is taken from the Ohio State University Integrated Pest Management web site and from a website organized by R. Bateman of the Imperial College in London. One caveat: the latter website is advocating for the use of pesticides and supported by the big names in the industry. In no way do I advocate for or endorse the purpose of that website. Continue reading “Some Background on Cocoa Pests and Diseases”
Pre-oil Boom In Ghana’s Takoradi Port
Takoradi, the port city halfway between Ghana’s capital Accra and the Ivorian capital of Abidjan is buzzing with lots of new activity. And no, it’s not the planned boom in cocoa exports–Ghana is planning to reach cocoa exports of 1 million tons by 2010/11–it’s the expectation of an oil boom that is pushing up real estate prices in the city and causing a boom in construction and renovation.
