COPAL COCOA Info
A Weekly Newsletter of Cocoa Producers' Alliance
2
COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,
P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
Email: Website: www.copal-cpa.org
Health and Nutrition·
Production and Quality
· DJ Nigeria's Cocoa Production to drop 10% in 2011-12 Season - Trade
· World 'needs extra 1m tonnes' of cocoa by 2020
The Market
· Ivory Coast Cocoa Premium is said to remain stable in Europe
Processing & Manufacturing
· Cocoa grindings growth seen slowing in 2011/12
· UTZ CERTIFIED Q3 close shows significant increase in Coffee, Tea and Cocoa Sales
Business & Economy
· New technology introduced to enhance bulk export of Ghana’s cocoa / · ‘Cargill Announces Memorandum of Understanding to Support Cocoa Sector in Cote d'Ivoire
Labour Issues
· Ivory Coast cocoa farms child labour: Little change
Environmental Issue
·
Research & Development
·
Promotion & Consumption
·
Others
· Rains batter Cameroon, cocoa disease spreads
In the News (from Newspapers worldwide)
ICCO Daily Cocoa Prices
ICCO Daily Price(SDR/tonne) / ICCO Daily price
($US/tonne) / London futures
(£/tonne) / New York futures
($US/tonne)
7th November / 1739.12 / 2738.75 / 1707.67 / 2746.33
8th November / 1705.19 / 2686.35 / 1671.00 / 2692.00
9th November / 1652.98 / 2594.84 / 1631.67 / 2591.00
10th November / 1624.66 / 2546.77 / 1602.67 / 2544.33
11th November / - / - / - / -
Average / 1680.00 / 2642.00 / 2642.00 / 1653.00
International Financial Futures and Options Exchange (LIFFE)
London Futures Market – Summary of Trading Activities
(£ per tone)
Monday / 7th November / 2011Month / Opening Trans / Settle / Change / Daily High / Daily Low / Volume
Dec 2011 / 1689 / 1689 / 12 / 1697S / 1673 / 6,220
Mar 2012 / 1710 / 1709 / 9 / 1723S / 1699S / 4,558
May 2012 / 1725 / 1725 / 11 / 1737S / 1714S / 1,062
Jul 2012 / 1743 / 1739 / 10 / 1752S / 1729S / 304
Sep-12 / 1750 / 1752 / 13 / 1765S / 1740 / 103
Dec2012 / 1760 / 1761 / 11 / 1765S / 1760S / 29
Mar2013 / 1774 / 10 / 0
May2013 / 1782 / 10 / 0
Jul2013 / 1775 / 10 / 0
Sep2013 / 1775 / 10 / 0
Average/Totals / 1748 / 12,276
Tuesday / 8th November / 2011
Month / Opening Trans / Settle / Change / Daily High / Daily Low / Volume
Dec 2011 / 1692 / 1652 / -37 / 1693S / 1643 / 7,258
Mar 2012 / 1712 / 1673 / -36 / 1713S / 1662 / 6,132
May 2012 / 1727 / 1688 / -37 / 1727 / 1680S / 1,192
Jul 2012 / 1740 / 1703 / -36 / 1741 / 1703S / 300
Sep-12 / 1753 / 1708 / -44 / 1753S / 1718S / 549
Dec2012 / 1761 / 1725 / -36 / 1762S / 1734S / 593
Mar2013 / 1776 / 1738 / -36 / 1776S / 1776S / 200
May2013 / 1744 / -38 / 0
Jul2013 / 1737 / -38 / 0
Sep2013 / 1737 / -38 / 0
Average/Totals / 1711 / 16,224
Wednesday / 9th November / 2011
Month / Opening Trans / Settle / Change / High / Low / Volume
Dec 2011 / 1650 / 1613 / -39 / 1661 / 1609 / 6,395
Mar 2012 / 1671 / 1633 / -40 / 1683 / 1629S / 7,279
May 2012 / 1696 / 1649 / -39 / 1698 / 1645S / 2,269
Jul 2012 / 1714 / 1664 / -39 / 1714S / 1660S / 677
Sep-12 / 1708 / 1677 / -31 / 1708S / 1675S / 682
Dec2012 / 1710 / 1692 / -33 / 1710S / 1689S / 366
Mar2013 / 1731 / 1705 / -33 / 1731 / 1703 / 179
May2013 / 1712 / -32 / 0
Jul2013 / 1699 / -38 / 0
Sep2013 / 1699 / -38 / 0
Average/Totals / 1674 / 17,847
Thursday / 10th November / 2011
Month / Opening Trans / Settle / Change / High / Low / Volume
Dec 2011 / 1614 / 1583 / -30 / 1624S / 1580 / 4,971
Mar 2012 / 1629 / 1605 / -28 / 1643 / 1603S / 8,537
May 2012 / 1651 / 1620 / -29 / 1656S / 1618S / 3,060
Jul 2012 / 1665 / 1637 / -27 / 1671 / 1636S / 2,347
Sep-12 / 1680 / 1651 / -26 / 1686S / 1650S / 988
Dec2012 / 1699 / 1666 / -26 / 1699S / 1666 / 199
Mar2013 / 1710 / 1679 / -26 / 1710S / 1678 / 42
May2013 / 1687 / -25 / 0
Jul2013 / 1674 / -25 / 0
Sep2013 / 1674 / -25 / 0
Average/Totals / 1648 / 20,144
Friday / 11th November / 2011
Month / Opening Trans / Settle / Change / High / Low / Volume
Dec 2011 / 1583 / 1575 / -8 / 1594 / 1565S / 5,717
Mar 2012 / 1606 / 1596 / -9 / 1614S / 1584S / 8,673
May 2012 / 1622 / 1610 / -10 / 1629S / 1600S / 1,647
Jul 2012 / 1638 / 1625 / -12 / 1645S / 1615S / 1,057
Sep-12 / 1652 / 1638 / -13 / 1656S / 1627S / 817
Dec2012 / 1667 / 1651 / -15 / 1670S / 1642S / 340
Mar2013 / 1681 / 1664 / -15 / 1681 / 1662S / 28
May2013 / 1689 / 1671 / -16 / 1689 / 1689 / 4
Jul2013 / 1655 / -19 / 0
Sep2013 / 1655 / -19 / 0
Average/Totals / 1634 / 18,283
Average for the week / 1634 / 16955
84,774
New York Board of Trade
(New York Futures Market – Summary of Trading Activities)
(US$ per tone)
Monday / 7th November / 2011Month / Open / Price / Change / High / Low / Volume
Dec 2011 / 2722 / 2728 / 31 / 2740 / 2701 / 20,332
Mar 2012 / 2746 / 2750 / 19 / 2764 / 2727 / 15,142
May 2012 / 2742 / 2762 / 17 / 2771 / 2739 / 1,771
Jul2012 / 2780 / 2775 / 17 / 2780 / 2767 / 122
Sep 2012 / 2776 / 2784 / 18 / 2780 / 2763 / 195
Dec2012 / 2775 / 2795 / 21 / 2792 / 2775 / 113
Mar2013 / 2810 / 2803 / 21 / 2810 / 2780 / 9
May2013 / 0 / 2810 / 23 / 0 / 0 / 0
Jul2013 / 0 / 2818 / 23 / 0 / 0 / 0
Sep2013 / 0 / 2832 / 24 / 0 / 0 / 0
Average/Totals / 2786 / 37684
Tuesday / 8th November / 2011
Month / Open / Price / Change / High / Low / Volume
Dec 2011 / 2729 / 2663 / -65 / 2739 / 2643 / 25,078
Mar 2012 / 2748 / 2689 / -61 / 2760 / 2665 / 25,903
May 2012 / 2768 / 2699 / -63 / 2769 / 2678 / 2,165
Jul2012 / 2780 / 2716 / -59 / 2780 / 2704 / 1,135
Sep 2012 / 2766 / 2727 / -57 / 2766 / 2714 / 223
Dec2012 / 2781 / 2737 / -58 / 2781 / 2754 / 304
Mar2013 / 2760 / 2746 / -57 / 2760 / 2730 / 74
May2013 / 0 / 2753 / -57 / 0 / 0 / 0
Jul2013 / 0 / 2761 / -57 / 0 / 0 / 0
Sep2013 / 0 / 2775 / -57 / 0 / 0 / 0
Average/Totals / 2727 / 54882
Wednesday / 9th November / 2011
Month / Open / Price / Change / High / Low / Volume
Dec 2011 / 2676 / 2570 / -93 / 2680 / 2549 / 21,842
Mar 2012 / 2695 / 2603 / -86 / 2705 / 2586 / 23,127
May 2012 / 2711 / 2615 / -84 / 2711 / 2599 / 2,206
Jul2012 / 2706 / 2632 / -84 / 2712 / 2619 / 465
Sep 2012 / 2650 / 2645 / -82 / 2665 / 2640 / 312
Dec2012 / 2675 / 2657 / -80 / 2680 / 2647 / 439
Mar2013 / 2730 / 2668 / -78 / 2730 / 2660 / 60
May2013 / 2688 / 2677 / -76 / 2700 / 2688 / 11
Jul2013 / 0 / 2685 / -76 / 0 / 0 / 0
Sep2013 / 0 / 2699 / -76 / 0 / 0 / 0
Average/Totals / 2645 / 48462
Thursday / 10th November / 2011
Month / Open / Price / Change / High / Low / Volume
Dec 2011 / 2571 / 2504 / -66 / 2585 / 2500 / 14,782
Mar 2012 / 2598 / 2559 / -44 / 2618 / 2548 / 22,010
May 2012 / 2620 / 2570 / -45 / 2624 / 2562 / 2,681
Jul2012 / 2639 / 2586 / -46 / 2639 / 2577 / 1,135
Sep 2012 / 2651 / 2598 / -47 / 2652 / 2596 / 238
Dec2012 / 2660 / 2612 / -45 / 2660 / 2609 / 88
Mar2013 / 2650 / 2625 / -43 / 2650 / 2615 / 111
May2013 / 2652 / 2634 / -43 / 2652 / 2649 / 78
Jul2013 / 2665 / 2642 / -43 / 2665 / 2665 / 81
Sep2013 / 0 / 2656 / -43 / 0 / 0 / 0
Average/Totals / 2599 / 41204
Friday / 11th November / 2011
Month / Open / Price / Change / High / Low / Volume
Dec 2011 / 2505 / 2489 / -15 / 2520 / 2465 / 9,731
Mar 2012 / 2559 / 2559 / 0 / 2588 / 2544 / 15,665
May 2012 / 2561 / 2570 / 0 / 2602 / 2556 / 2,692
Jul2012 / 2580 / 2585 / -1 / 2618 / 2577 / 1,204
Sep 2012 / 2598 / 2597 / -1 / 2619 / 2590 / 284
Dec2012 / 2610 / 2612 / 0 / 2631 / 2600 / 170
Mar2013 / 2615 / 2624 / -1 / 2629 / 2610 / 223
May2013 / 0 / 2635 / 1 / 0 / 0 / 0
Jul2013 / 0 / 2643 / 1 / 0 / 0 / 27
Sep2013 / 0 / 2657 / 1 / 0 / 0 / 0
Average/Totals / 2597 / 29996
Average for the wee / 2597 / 5454
5454
News
2
COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,
P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
Email: Website: www.copal-cpa.org
2
COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,
P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
Email: Website: www.copal-cpa.org
2
COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,
P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
Email: Website: www.copal-cpa.org
2
COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,
P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
Email: Website: www.copal-cpa.org
2
COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,
P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
Email: Website: www.copal-cpa.org
2
COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,
P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
Email: Website: www.copal-cpa.org
DJ Nigeria's Cocoa Production to drop 10% in 2011-12 Season - Trade
Middle East North Africa Financial Network
By Obafemi Oredein; Dow Jones Newswires
November 10, 2011
IBADAN, Nigeria, Nov 10, 2011 (Dow Jones Commodities News via Comtex) -- Nigeria's cocoa production is expected to be down by 10% in the 2011-12 season (October-September) due to excessive rain and otherwise poor weather, cocoa body officials and traders said Thursday. "Too much rainfall hampered good development of cocoa this year while farmers received imported chemicals too late to fight cocoa diseases," Robo Adhuze, an analyst with the Cocoa Association of Nigeria, or CAN, told Dow Jones Newswires. He said output by Nigeria in the 2011-12 had been estimated at 300,000 metric tons by the association "but we will likely see this down by at least 30,000 tons," following unfavorable weather.
Rainfall has been extremely heavy in the southwest and southeast cocoa regions especially in September and October and this led to the outbreak of the black pod disease in key cocoa-growing areas in Ondo, Osun, Ekiti, Oyo and Ogun states, traders contacted in the regions said.
Robo said the black pod disease was already on the farms before effective chemical treatments arrived in June, adding that they should come in in March, before the onset of the rainy season in May. He said some businessmen brought in bogus chemicals that were sold to farmers at cheaper rates but were ineffective on cocoa diseases.
"Even when the genuine chemicals arrived the prices were high and several farmers could not buy enough to treat their farms. Due to excessive rainfall farmers needed more chemicals than they usually bought each year to fight this year's black pod disease," a trader in Ile-Ife, Osun state, said.
Black pod, which thrives in cocoa farms in humid conditions destroys 40% of Nigerian cocoa production each year, according to the state-run Cocoa research Institute of Nigeria. "We are still having rainfall in Ondo state, the biggest cocoa producer in Nigeria. Substantial rains fell [Thursday]," Robo said.
Nigeria normally produces 240,000 tons of cocoa a year but new cocoa farms planted by cocoa-producing states and rehabilitation of large tracts of old cocoa farms were expected to raise national output to 300,000 tons this season.
World 'needs extra 1m tonnes' of cocoa by 2020
Agrimoney.com
By Agrimoney.com
10th November 2011,
World cocoa production needs to rise more than one-quarter to spare confectioners "significant challenges" in securing supplies, the top ranked chocolate maker said, unveiling plans to help farmers double yields. However, the analysis failed to prevent cocoa prices falling to two-year lows in both London and New York.
Chocolate makers will need an extra 1m tonnes of cocoa beans by 2020 to meet demand, which, led by emerging markets is growing by 2-3% a year, Swiss-based Barry Callebaut said.
Brazilian consumption soared 12.8% in the year to the end of August.
However, cocoa production "has been steadily declining for years, especially in Ivory Coast," responsible for nearly 40% of world output, Juergen Steinemann, the Barry Callebaut chief executive, told shareholders.
A bumper 2010-11 harvest, which was boosted by favourable rains, masked the hindrance to production presented by volatile prices, when farmers "main concern is to get a stable income", and better returns from other plantation crops.
Rubber was at the start of the year offering Ivory Coast growers $2,000 a hectare more than cocoa, which has been the more profitable crop since 2003.
'Fragile and sensitive'
"We have to do more to ensure the growth of our cocoa crop," Mr Steinemann said, terming the cocoa "a fragile and sensitive crop in every aspect".
Barry Callebaut itself, which alone expects to need an extra 300,000 tonnes of cocoa by 2020, was to launch a "yield and quality initiative". This will boost output through measures such as providing agronomic advice to farmers, with the aim of boosted yields to 800 kilogramme a hectare, education to encourage young people intopthe industry and a health plan to improve growers livelihood. "We as market leader need to further accelerate our direct impact to safeguard our growth ambition," Mr Steinemann said.