Thrillers and Suspense
When Ivorian President Laurent Gbagbo dissolved that country’s government and electoral commission on February 12, he created the latest roadblock in the long and difficult road to elections. The outcome was predictable. The elections, already postponed six times to March 2010, now are even father off. Even more disturbing was the dissolution of the Electoral Commission, the very entity charged with organizing the elections.
Nestlé, the global food giant, announced that, starting in 2010, its Kit Kat bar in the UK will be made with fairtrade chocolate. In doing so, Nestlé is following the example set by Cadbury earlier this year. According to the BBC, Nestlé sells about 1 billion Kit Kats a year in the UK. The beneficiaries of this move will be the cocoa farmers in the Côte d’Ivoire who stand to receive hundreds of thousands pounds as a result of the decision as estimated by Harriet Lamb of the UK’s Fairtrade Foundation.
News of the decline of Ivorian cocoa production might be premature. I have reported earlier that a consensus estimate put Ivorian output for the current cocoa year at 1-1.15 million tons, quite a bit below the 1.4 million tons the country had achieved only a few years ago. But that consensus is no longer holding.
Continue reading “Ivorian Harvest Much Better Than Expected, So Far…”
The Ivorian President Gbagbo’s two-day visit to Ghana ended with a joint communique expressing the two countries’ resolve to influence international cocoa prices. The communique pointed out that increases in production have not yielded comparative increases in revenue for the countries. It further criticized the impact of global commodity cartels on cocoa prices. Finally, Gbagbo and Ghanaian President Mills reaffirmed their support for moving the headquarters of the International Cocoa Organization (ICCO) from London to Abidjan.
Continue reading “Ghana and Côte d’Ivoire to Cooperate on Cocoa Prices”
The new cocoa year started on October 1st and its time to review some of the production data from the last cocoa year. Let’s start with the largest producer, the Côte d’Ivoire. According to an item in Africa Report, the West African country had its worst production in five years. Total cocoa exports amounted to 1,178,526 tonnes, 14 percent down from last years 1,367,877 tonnes. Exporters expect the current season to be just as bad, predicting exports in the range of 1 million to 1.15 million tons.
Continue reading “Côte d’Ivoire Production Reports for the Last Cocoa Year”
