ivory coast cocoa bean production forecast 2011

ivory coast cocoa bean production forecast 2011 : Cocoa bean (also cacao bean, often simply cocoa and cacao) is the dried and fully fermented fatty seed of Theobroma cacao, from which cocoa solids and cocoa butter are extracted. A cocoa pod (fruit) has a rough leathery rind about 3 cm thick (this varies with the origin and variety of pod). It is filled with sweet, mucilaginous pulp (called 'baba de cacao' in South America) enclosing 30 to 50 large seeds that are fairly soft and pale pink or lavender in color.

Seeds usually are white, becoming violet or reddish brown during the drying process. The exception is rare varieties of white cacao, in which the seeds remain white. Historically, white cacao was cultivated by the Rama people of Nicaragua. It provides means of livelihood, sustenance and employment opportunities to over five million Nigerians, In the year 2005 alone, export revenue from the sale of cocoa amounted to US$136.7 million. Nigeria along with Cote d'lvoire and Ghana all in West Africa, account for about 70% of the world's cocoa production.

World Producers of cocoa:
The four major West African cocoa producers are the Ivory Coast, Ghana, Nigeria and Cameroon. The Ivory Coast produces about 43 percent of the world's cocoa. The next largest producer is Ghana with about 14 percent of the world's output. Nigeria produces about 6 percent of the world's cocoa. Outside of West Africa, the major producers of cocoa are Indonesia, Brazil, Malaysia, Ecuador, and the Dominican Republic. Cocoa producers like Ghana and Indonesia have been making efforts to increase cocoa production while producers like Malaysia have been switching to other crops.

Price of cocoa beans rises
The price of cocoa beans has risen from $1,000 US a tonne in 2000 to $3,500 US a tonne in 2011, according to a recent Globe and Mail newspaper article. About three million tonnes of cocoa beans are harvested annually. About 40 per cent of it comes from the West African country of Ivory Coast, which is racked with political unrest.
Read More...

Cocoa export ban affecting Ivory Coast economy
In a tit-for-tat tug-of-war that has thrown the world cocoa industry into turmoil, Gbagbo and internationally recognized electoral victor Alassane Ouattara are grappling for control over the estimated $1 billion per year cocoa brings to Ivory Coast, which produces about 40 per cent of world supply. At least 40,000 tonnes of cocoa is sitting in port and farmers risk losing their cash crop, which spoils if not stored properly.Read More...

Cocoa production and labor concerns
The world's biggest producing nation is Ivory Coast, which the ICCO estimates to have produced 1.242 million tonnes in the 2009/10 crop year. Read More...

The recent worrying news from Ivory Coast,
the world's largest cocoa bean producer, threatening to temporarily suspend any export, has sent cocoa prices to a record high. UK accounts for an estimated 34% of global production, and cocoa prices are up by more than 20% since the start of the year. So, what does this high volatility mean for businesses and their supply chains? Read More... For the latest updates PRESS CTR + D or visit Stock Market news Today

Related Post: