Tag: cocoa prices

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Cocoa Farmers block Cocoa Delivery in the Côte d’Ivoire

I reported a couple of weeks ago that the new management committee for the cocoa sector in the Côte d’Ivoire set a new indicative price of CFA700 ($1.48) per kilogram for the 2008/09 cocoa season. That represented a forty percent increase over the indicative price of the previous season. I also reported that this indicative price is not a mandatory price. That is, traders and other middle men can pay more or less depending on the quality of the cocoa and market conditions. But that’s not how Ivorian cocoa farmers see it.

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Côte d’Ivoire Increases Cocoa Farm Gate Price

The 2008/09 Ivorian cocoa season began five days late due to the reform efforts that are to weed out the corruption in the cocoa sector. The management committee that now runs the key cocoa sector institutions opened the season on Sunday and also set a new indicative farm gate price of CFA700 ($1.48) per kilogram for the next quarter, up from CFA500/kg during the past quarters.

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Cocoa Prices in Perspective

The recent increases in cocoa prices–the thirty year high in July for example–mask what has been, in effect, a secular decline in cocoa prices adjusted for inflation. Author Thomas Lines finally put numbers to something I’ve known for some time. When observers speak of all time high cocoa prices, they simply compare current prices, that is, prices listed 30 years ago and today without taking into consideration inflation.

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Indonesia Follow-up

The International Cocoa Organization just issued a report decreasing Indonesia’s prospective cocoa harvest for 2007/08 by 90,000 tons. Indonesia exported 530,000 tons of cocoa during for 2006/07 and the ICCO had projected exports to reach 570,000 tons this season.The current export volume is estimated to reach 480,000 tons.

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