COPAL COCOA Info



COPAL COCOA Info

A Weekly Newsletter of Cocoa Producers' Alliance

| Health and Nutrition |Business & Economy |

| | |

| | |

|Production and Quality |Labour Issues |

| | |

| | |

|The Market |Environmental Issue |

| | |

| | |

|Processing and Manufacturing |Research & Development |

| | |

| | |

| | |

| |Promotion & Consumption |

| | |

| | |

| |Others |

In the News (from Newspapers worldwide)

ICCO Daily Cocoa Prices

| |ICCO Daily Price |ICCO Daily price |London futures |New York futures |

| |(SDR/tonne) |($US/tonne) |(£/tonne) |($US/tonne) |

| | | | | |

|23rd April | | | | |

| | | | | |

|24th April | | | | |

| | | | | |

|25th April | | | | |

| | | | | |

|26th April | | | | |

| | | | | |

|27th April | | | | |

| | | | | |

|Average | | | | |

International Financial Futures and Options Exchange (LIFFE)

London Futures Market – Summary of Trading Activities

(£ per tone)

|Monday |23rd April |2012 |  |  |  |  |

|Month |Opening Trans |Settle |Change |High |Low |Volume |

|May  2012 |1475 |1444 |-32 |1490S |1440 |1,305 |

|Jul  2012 |1489 |1459 |-32 |1505 |1454S |7,492 |

|Sep  2012 |1488 |1457 |-33 |1502 |1453S |1,797 |

|Dec  2012 |1484 |1454 |-33 |1496S |1450 |861 |

|Mar  2013 |1464 |1430 |-32 |1474S |1426S |773 |

|May  2013 |1471 |1433 |-33 |1474S |1430S |230 |

|Jul  2013 |  |1437 |-33 |  |  |0 |

|Sep  2013 |1460 |1441 |-33 |1460 |1449 |26 |

|Dec  2013 |1459 |1450 |-33 |1459S |1438 |4 |

|Dec  2014 |  |1459 |-33 |  |  |0 |

|Average/Totals |  |1446 |  |  |  |12,488 |

|Tuesday |24th April |2012 |  |  |  |  |

|Month |Opening Trans |Settle |Change |High |Low |Volume |

|May  2012 |1452 |1490 |46 |1502S |1450S |2,154 |

|Jul  2012 |1466 |1505 |46 |1518S |1465 |8,732 |

|Sep  2012 |1462 |1492 |35 |1507S |1462 |3,428 |

|Dec  2012 |1461 |1484 |30 |1500S |1459S |1,025 |

|Mar  2013 |1438 |1461 |31 |1479S |1436S |2,171 |

|May  2013 |1442 |1459 |26 |1480S |1438S |993 |

|Jul  2013 |1454 |1464 |27 |1485S |1454S |82 |

|Sep  2013 |1455 |1471 |30 |1479 |1455 |139 |

|Dec  2013 |  |1478 |28 |  |  |0 |

|Mar  2014 |  |1487 |28 |  |  |0 |

|Average/Totals |  |1479 |  |  |  |18,724 |

|Wednesday |25th April |2012 |  |  |  |  |

|Month |Opening Trans |Settle |Change |High |Low |Volume |

|May  2012 |1489 |1483 |-7 |1514S |1478 |1,938 |

|Jul  2012 |1507 |1490 |-15 |1528S |1484 |7,527 |

|Sep  2012 |1495 |1477 |-15 |1513 |1471S |2,566 |

|Dec  2012 |1485 |1471 |-13 |1500S |1460S |1,568 |

|Mar  2013 |1467 |1450 |-11 |1479S |1440 |1,704 |

|May  2013 |1470 |1446 |-13 |1475S |1436S |968 |

|Jul  2013 |1466 |1449 |-15 |1466S |1458S |36 |

|Sep  2013 |1470 |1453 |-18 |1470S |1464S |15 |

|Dec  2013 |  |1458 |-20 |  |  |0 |

|Mar  2014 |  |1465 |-22 |  |  |0 |

|Average/Totals |  |1462 |  |  |  |16,322 |

|Thursday |26th April |2012 |  |  |  |  |

|Month |Opening Trans |Settle |Change |High |Low |Volume |

|May  2012 |1484 |1498 |15 |1503S |1477S |2,421 |

|Jul  2012 |1491 |1508 |18 |1512 |1487S |4,474 |

|Sep  2012 |1479 |1496 |19 |1500S |1476 |2,136 |

|Dec  2012 |1471 |1486 |15 |1490S |1469 |619 |

|Mar  2013 |1450 |1465 |15 |1469S |1447S |909 |

|May  2013 |1447 |1463 |17 |1465S |1443S |648 |

|Jul  2013 |1461 |1466 |17 |1461 |1461 |3 |

|Sep  2013 |  |1472 |19 |  |  |0 |

|Dec  2013 |  |1476 |18 |  |  |0 |

|Mar  2014 |  |1482 |17 |  |  |0 |

|Average/Totals |  |1481 |  |  |  |11,210 |

|Month |Opening Trans |Settle |Change |High |Low |Volume |

|May  2012 |1497 |1515 |17 |1520S |1486S |2,921 |

|Jul  2012 |1509 |1531 |23 |1537 |1499 |6,734 |

|Sep  2012 |1501 |1519 |23 |1524 |1486S |3,207 |

|Dec  2012 |1489 |1505 |19 |1507 |1472S |1,673 |

|Mar  2013 |1469 |1477 |12 |1480S |1448S |2,408 |

|May  2013 |1458 |1474 |11 |1470S |1446 |522 |

|Jul  2013 |1474 |1477 |11 |1474S |1474S |5 |

|Sep  2013 |1481 |1483 |11 |1481S |1468 |60 |

|Dec  2013 |  |1487 |11 |  |  |0 |

|Mar  2014 |  |1493 |11 |  |  |0 |

|Average/Totals |  |1496 |  |  |  |

|  |  |  |  |  |3187 |

New York Board of Trade

(New York Futures Market – Summary of Trading Activities)

(US$ per tone)

|Monday |23rd April |2012 |  |  |  |  |

|Month |Open |Price |Change |High |Low |Volume |

|May  2012 |2300 |2245 |-54 |2300 |2245 |28 |

|Jul  2012 |2269 |2204 |-65 |2278 |2183 |10,549 |

|Sep  2012 |2274 |2219 |-63 |2291 |2200 |2,858 |

|Dec  2012 |2291 |2228 |-61 |2299 |2214 |971 |

|Mar  2013 |2306 |2241 |-63 |2313 |2227 |838 |

|May  2013 |2311 |2251 |-61 |2311 |2240 |97 |

|Jul  2013 |0 |2260 |-61 |0 |0 |0 |

|Sep  2013 |0 |2271 |-60 |0 |0 |4 |

|Dec  2013 |0 |2287 |-60 |0 |0 |4 |

|Mar  2014 |0 |2309 |-57 |0 |0 |1 |

|Average/Totals |  |2252 |  |  |  |15350 |

|Tuesday |24th April |2012 |  |  |  |  |

|Month |Open |Price |Change |High |Low |Volume |

|May  2012 |2269 |2325 |80 |2338 |2269 |53 |

|Jul  2012 |2204 |2284 |80 |2312 |2192 |17,844 |

|Sep  2012 |2210 |2296 |77 |2320 |2210 |3,958 |

|Dec  2012 |2236 |2303 |75 |2328 |2236 |2,242 |

|Mar  2013 |2249 |2312 |71 |2341 |2249 |2,560 |

|May  2013 |2259 |2320 |69 |2350 |2259 |583 |

|Jul  2013 |2303 |2326 |66 |2352 |2300 |195 |

|Sep  2013 |2361 |2329 |58 |2361 |2306 |53 |

|Dec  2013 |2320 |2345 |58 |2320 |2316 |14 |

|Mar  2014 |0 |2364 |55 |0 |0 |6 |

|Average/Totals |  |2320 |  |  |  |27508 |

|Wednesday |25th April |2012 |  |  |  |  |

|Month |Open |Price |Change |High |Low |Volume |

|May  2012 |2345 |2302 |-23 |2354 |2290 |4 |

|Jul  2012 |2284 |2251 |-33 |2305 |2231 |10,915 |

|Sep  2012 |2297 |2265 |-31 |2317 |2247 |2,208 |

|Dec  2012 |2302 |2272 |-31 |2321 |2254 |1,105 |

|Mar  2013 |2305 |2279 |-33 |2326 |2260 |699 |

|May  2013 |2315 |2285 |-35 |2332 |2277 |627 |

|Jul  2013 |0 |2291 |-35 |0 |0 |6 |

|Sep  2013 |0 |2299 |-30 |0 |0 |23 |

|Dec  2013 |0 |2312 |-33 |0 |0 |5 |

|Mar  2014 |0 |2330 |-34 |0 |0 |5 |

|Average/Totals |  |2289 |  |  |  |15597 |

|Thursday |26th April |2012 |  |  |  |  |

|Month |Open |Price |Change |High |Low |Volume |

|May  2012 |2303 |2327 |25 |2326 |2303 |11 |

|Jul  2012 |2251 |2272 |21 |2289 |2242 |7,451 |

|Sep  2012 |2264 |2286 |21 |2301 |2256 |2,043 |

|Dec  2012 |2270 |2291 |19 |2303 |2270 |634 |

|Mar  2013 |2275 |2294 |15 |2308 |2275 |876 |

|May  2013 |2301 |2301 |16 |2301 |2301 |74 |

|Jul  2013 |0 |2307 |16 |0 |0 |2 |

|Sep  2013 |0 |2315 |16 |0 |0 |0 |

|Dec  2013 |0 |2328 |16 |0 |0 |0 |

|Mar  2014 |0 |2345 |15 |0 |0 |0 |

|Average/Totals |  |2307 |  |  |  |11091 |

|Friday |27th April |2012 |  |  |  |  |

|Month |Open |Price |Change |High |Low |Volume |

|May  2012 |1497 |1515 |17 |1520S |1486S |2,921 |

|Jul  2012 |1509 |1531 |23 |1537 |1499 |6,734 |

|Sep  2012 |1501 |1519 |23 |1524 |1486S |3,207 |

|Dec  2012 |1489 |1505 |19 |1507 |1472S |1,673 |

|Mar  2013 |1469 |1477 |12 |1480S |1448S |2,408 |

|May  2013 |1458 |1474 |11 |1470S |1446 |522 |

|Jul  2013 |1474 |1477 |11 |1474S |1474S |5 |

|Sep  2013 |1481 |1483 |11 |1481S |1468 |60 |

|Dec  2013 |  |1487 |11 |  |  |0 |

|Mar  2014 |  |1493 |11 |  |  |0 |

|Average/Totals |  |1496 |  |  |  |17530 |

|Average for the week  |1496 |  |  |  |3187 |

|  |  |  |  |  |3187 |

News

Choose Dark Chocolate for Health Benefits: Dark Chocolate, but not White, can improve Cholesterol and Blood Sugar, Experts find

WebMD

By Kathleen Doheny

April 24, 2012

If you're eating chocolate for the health benefits -- and aren't we all? -- you must pick wisely, new research suggests. "Eat dark chocolate, not white chocolate," says researcher Mee Young Hong, PhD, associate professor of exercise and nutritional sciences at San Diego State University. She compared dark and white chocolate, looking at health effects, such as improving cholesterol.

Dark chocolate was the clear winner, she says. She is due to present the findings at the Experimental Biology 2012 meeting in San Diego.

The History of Chocolate Slideshow

Chocolate and Health Benefits: Study Details

Hong compared white chocolate, which has no cocoa solids, to regular dark chocolate containing 70% cocoa. The cocoa solids contain healthy compounds called flavonols. These have antioxidant and anti-inflammatory properties.

She also tested dark chocolate containing 70% cocoa that had been overheated or ''bloomed." ("You know when you leave chocolate in the [hot] car?" she asks. That's ''bloomed" -- melted and then maybe hardened again.)

She wanted to see if the melting would rob the dark chocolate of the health effects.

Hong's team assigned 31 men and women to eat about 1.7 ounces (a standard-size chocolate bar is about 1.5 ounces) of dark, white, or ''bloomed" dark chocolate every day for 15 days. Before and after the study, Hong's team measured blood pressure, blood sugar, and cholesterol.

Compared to those who ate white chocolate, those eating either dark chocolate had:

* Lower blood sugar levels

* Improved LDL or ''bad" cholesterol

* Improved HDL or "good" cholesterol

She didn't find differences in blood pressure between the white chocolate eaters and the dark chocolate eaters.

As for why the dark chocolate may help blood sugar levels, Hong says its antioxidants may help the body use its insulin more efficiently to control blood sugar. This, in turn, helps to lower blood sugar levels naturally.

Compared to people who ate white chocolate, those who ate dark lowered their bad cholesterol by about 20%, Hong tells WebMD. Dark chocolate eaters increased their good cholesterol by 20%, compared to white chocolate eaters.

The white chocolate, but not the dark, made the skin blood flow slow down -- not a desirable quality. Skin blood flow is a way to measure how the blood vessels are functioning.

The study did not have industry funding.

Chocolate for Health: Perspectives

Some of the findings echo that of other research, says Joe Vinson, PhD, a professor of chemistry at the University of Scranton and a long-time researcher on antioxidants in foods. He reviewed the findings. "The fact that white chocolate (containing fat and sugar) makes the skin blood flow slow down is newsworthy," he says. The message to stay healthy, he says, is: "Don't eat fat and sugar without antioxidants."

The finding about bloomed chocolate is reassuring if you're wondering whether to eat old chocolate, Vinson says. He says it may look bad but that it still has active antioxidants.

Other studies have found lowering of blood pressure with dark chocolate, says Eric Ding, PhD, a nutritional epidemiologist and instructor of medicine at Harvard Medical School. He reviewed the findings.

The fact that Hong did not, he says, could simply be because of the small size of the study.

"The LDL decrease and the HDL increase are consistent with previous research," Ding tells WebMD.

The blood sugar finding is newer, he says.

Hong reminds chocolate lovers that moderation is key.

These findings were presented at a medical conference. They should be considered preliminary as they have not yet undergone the "peer review" process, in which outside experts scrutinize the data prior to publication in a medical journal.

Want to slim down, have healthy heart? Try dark chocolate

Nigerian Tribune

By Muda Oyeniran

27 April 2012

Consumption of dark chocolate may be healthy for individuals of all age groups. Other studies have claimed chocolate may be good for the heart. Scientists have evidences to prove that dark chocolate lowers blood pressure, improves insulin sensitivity and its antioxidants help to mop up harmful free radicals that damage body cells, reports Muda Oyeniran.

It is amazing that chocolate which is high in fat and sugar could also help people slim down and also has the capacity to reduce the risk of coronary heart disease and stroke, according to a new study.

People who eat chocolate (especially dark chocolate) regularly tend to be thinner, new research suggests. The findings come from a study of nearly 1,000 United States of America (USA) people that looked at diet, calorie intake and body mass index (BMI) - a measure of obesity. It found those who ate chocolate a few times a week were, on the average, slimmer than those who ate it occasionally.

Even though chocolate is loaded with calories, it contains ingredients that may favour weight loss rather than fat synthesis, scientists believe. Despite boosting calorie intake, regular chocolate consumption was related to lower BMI in the study, which was published in Archives of Internal Medicine. The link remained even when other factors, like how much exercise individuals did, were taken into account. And it appears it is how often you eat chocolate that is important, rather than how much of it you eat. The study found no link with quantity consumed.

According to the researchers, there is only one chance in a 100 that their findings could be explained by chance alone. But the findings only suggest a link - not proof that one factor causes the other.

Lead author Dr Beatrice Golomb, from the University of California at San Diego, said: "Our findings appear to add to a body of information suggesting that the composition of calories, not just the number of them, matters for determining their ultimate impact on weight."

This is not the first time scientists have suggested that chocolate may be healthy for us. Other studies have claimed chocolate may be good for the heart. Consumption of certain types of chocolate has been linked to some favourable changes in blood pressure, insulin sensitivity and cholesterol level. And chocolate, particularly dark chocolate, does contain antioxidants which can help to mop up harmful free radicals - unstable chemicals that can damage our cells.

Dr Golomb and her team believe that antioxidant compounds, called catechins, can improve lean muscle mass and reduce weight - at least studies in rodents would suggest this might be so. Mice fed for 15 days with epicatechin (present in dark chocolate) had improved exercise performance and observable changes to their muscle composition.

They say clinical trials are now needed in humans to see if this is the case. But before you reach for a chocolate bar, there are still lots of unanswered questions. And in the absence of conclusive evidence, experts advise caution.

While there's no harm in allowing yourself a treat like chocolate now and again, eating too much might be harmful because it often contains a lot of sugar and fat too. And if you are looking to change your diet, you are likely to benefit most from eating more fresh fruits and vegetables.

Speaking on these findings, Dr. Folashade Alli, a Consultant Cardiology at the Lagoon Hospital, Lagos said what the researchers were saying was that apart from the constituents that are found in chocolate like the milk, sugar, there were antioxidants that either exists naturally or added to the chocolate which is good for the body. “Dark chocolate especially contains more of caffeine than the milky ones and the caffeine contains antioxidants like the polyphenol and the contents of the antioxidants will determine the kind of health benefits it can provide”, she added

In her submission, Dr. Kemi Odukoya, a public health physician and lecturer, Department of Community Health and Primary Care, College of Medicine, University of Lagos, said: “I agree with them totally. Now we know that chocolate now has some antioxidant effect. So, it does make sense, when they say that it has some medicinal effect on the heart and for the body. But we need to take this information and put it in context”

According to her, most of the health benefits of chocolate are due to cocoa but chocolate also has sugar (usually refined sugar), saturated fats and other things that may not be healthy for the body. “So people should not just go and start buying chocolate indiscriminately because it also has effects on the teeth. But there is no gainsay the fact that chocolate contains antioxidants that are beneficial to man. For those who love chocolate, they should take chocolate in moderation and then they should brush their teeth afterwards”, she explained.

Colombia awards $565k to Awa indigenous for cocoa farming

Colombia Reports

By Arron Daugherty

23 April 2012 11:25

The Colombian government gave $565,000 to an Awa indigenous community to encourage the cultivation of cocoa, said local media Monday.

The funds were awarded to the central Colombian town of Ricaurte and its surrounding Awa communities.

The action is part of a general effort by the Colombian government to encourage farmers to choose alternative crops to the highly lucrative coca plant - the base ingredient in cocaine production.

Last week a group of more than 2,000 cocoa farmers marched in Bogota to protest falling prices and demand government intervention.

National Cocoa Board leader Omar Acevedo told Colombian newspaper Semana, "We're not apologizing for coca farming, but people won't let themselves starve to death."

The Awa people have been frequent victims of violence surrounding coca cultivation and the drug trade.

Minister to distribute free new cocoa hybrid to producing states

BusinessDay

23 April 2012

Dr Akinwunmi Adesina, the Minister of Agriculture and Rural Development, on Monday promised to distribute free new cocoa hybrid to all the cocoa producing states.

Adesina made the promise while speaking at the Edo State Agric Business Investment Summit holding in Benin. He said the new cocoa hybrid was an improvement on the old variety and that the new variety had the capacity to produce 2,000 cocoa buds per tree as against 350 produced by the old cocoa variety.

The minister said that the new cocoa variety had a maturity time of two year to two and half years, while the old cocoa variety matured within four years and above.

``Because we are committed to repositioning agriculture to drive the economy, the ministry will distribute the new cocoa hybrid free of charge to all the cocoa producing states across the country.

``We want to restore the lost glory in the world trade of cocoa by making sure that these new cocoa hybrid are distributed to all cocoa producing states to replace the old varieties.

``The first television station ever in Nigeria was built with cocoa money, roads and infrastructure were also built with cocoa money in Nigeria, I grew up in the South West and I do know what I am talking about.

``We have completely lost those things we used to have because of the so much emphasis the country has placed on importation,’’ he said.

The minister said that Edo had been placed as the first and sixth largest producer of cassava and cocoa respectively in the country. He said that the investment in the production of cassava and cocoa had the potential to create more jobs.

The minister described agriculture as an untapped power house stressing that its potentials had not been cultivated. According to him, Nigeria has also lost its glory in the world of palm produce. The minister said,

``In the past, Nigeria used to be a leading force in oil palm production, but Malaysia had taken over palm oil production and they got the seedlings from Nigeria.

``My job as an agriculture minister is not to import food, but to export food and guaranteed food security for the nation.

``I have nothing against China, Malaysia, Indonesia, and USA, but I must work for my country.''

Also speaking, Gov. Adams Oshiomhole of Edo urged the Federal Government to prohibit waiver on importation of vegetable oil to encourage the production of palm oil in the country.

``I think it is time we begin to organise mass rallies in Abuja to stop the government from granting waiver to individuals to import goods that can be produced locally.

``Minster can we now prohibit the president from granting waivers on taxes and goods?’’ Oshiomhole asked.

Oshiomhole assured the minister that Edo would use the state resources to provide access roads and free land to encourage farmers, who would want to invest in the state.

The governor said that incoherent policies of successive government had been a major factor militating against the growth of agricultural sector in Nigeria.

FG agric plan includes marketing corporation to help farmers

BusinessDay

By Idris Umar Momoh, Benin

24 April 2012

The Federal Government on Monday said it had concluded plans to re-establish Marketing Corporations in the country, following difficulties experienced by farmers in finding markets for their produce.

The marketing corporations, which were once a veritable vehicle for farmers, faded away with the country’s dwindling agriculture fortunes.

Akinwunmi Adesina, minister of Agriculture and Rural Development, who disclosed this at a one-day Edo State Agribusiness Investment Summit, noted that when the boards were scrapped, government did not replace them, leaving a vacuum in the value chain of the farm produce distribution system in the country.

The vacuum is reflected today in the N1.3 trillion spent annually to import just four food items, including N635 billion spent on wheat import and another N358 billion spent on the importation on rice. This is contrast to the $18 billion Malaysia and Thailand earn from palm oil and rice respectively, yearly. Nigeria remains the world’s largest importer of rice, while agriculture accounts for a meager 1 percent of bank lending.

Adesina said the Marketing Corporation would be run by the private sector, noting that with the development, Nigeria would be able to compete with countries like Ghana, Ivory Coast and Cameroun, which currently have similar institutions in their countries and have higher outputs of farm produce such as Cocoa.

“Let me also talk on the issue of marketing. Your Excellencies, Adams Oshiomhole and Audu Ogbeh, you will remember that we used to have marketing boards until some people told us that we should disband them; we disbanded them but nothing replaced them. But today, the farmer in Nigeria finds it hard to find a market.

“The prices are unstable, rural incomes are falling; I have travelled the length and breadth of this country and everywhere I go, I see rural economic deprivation. Why? Because in those days, when we had marketing boards, there was guaranteed price for farmers, there was access to input and access to infrastructure.

“Some people asked us to disband ours while they left theirs. And today Nigerian farmers can be likened to somebody on a rickety boat, and you put the person in the midst of the Atlantic Ocean and ask the person to survive. That is institutional abandonment of farmers; we are going to fix that. So we are setting up what we call Marketing Corporation, not marketing co-operative but corporation,” he said.

He said there was no commodity in the country that has a marketing institution around it, which he described as an institutional failure, assuring that before the end of the year, a good number of the corporations would be established in the country. Adesina also said plans were underway to set up Staple Crop Processing Zones, in which the private sector would be invited to come in, process and add value to what farmers produce, adding that the zones would be provided with water, power and all the necessary infrastructure that would be of immense support to the investor.

He listed some of the staple commodities in which the processing zones would be established as rice and cassava. The minister however promised to establish two large scale integrated rice mills and one large scale high quality cassava flour plant in Edo State. The state is the 16th largest producer of cassava in the country and the first in the South- South region.

On Cocoa production, he said the Federal Government would distribute free, new high breed cocoa seedlings to all farmers in all cocoa producing states, in order to increase yields from Cocoa farms and phase away the old plant. He also promised to distribute 584,000 pods to Cocoa farmers in the state, as well as assisting some existing oil palm farmers with the cultivation of 3,000 hectares in the next three months , distribute 440,000 planting seedlings which will cost about N88 million, as part of the state and Federal Government agricultural development agenda.

In his remarks, the Edo State Governor, Adams Oshiomhole called on the Federal Government to prohibit granting of waivers for the importation of farm produce, including staple food such as rice and vegetable oil, where the country has comparative advantage to produce. He however promised to provide land free of charge to potential investors that would be ready to invest in the state agricultural sector, as well as provide an enabling environment to thrive, make profit and contribute to its economic development.

The minister and the Edo state governor, on behalf of the Federal Government and the State Government signed Memoranda of Understanding on Cassava Transformation and Transformation on Extension Services. While the Cassava Transformation is aimed at the higher production of cassava in the state, the Extension Service is meant to strengthen the efficiency and performance of the state owned Agricultural Development Programme.

Ghana launches National Cocoa Rehabilitation Programme

Bernama

April 27, 2012

(NNN-GNA) -- The Ghanaian government's policy to boost agricultural production will be given further impetus with the launch Friday of the National Cocoa Rehabilitation Programme.

The launch, to be held in Goaso in Asunafo North Municipality of Brong-Ahafo Region (Province), is aimed at revamping the cocoa industry, said the regional minister Kwadwo Nyamekye-Marfo.

Addressing a meeting of the Regional Co-ordinating Council in the regional capital Sunyani on Wednesday, Nyamekye-Marfo said it was anticipated that more than 20 million cocoa seedlings would be supplied free of charge to farmers under the programme.

Research has shown that about 23 per cent of cocoa farms in the country were more than 30 years old, with most farms heavily infested with mistletoe which resulted in a reduction of cocoa production in many farms nationwide, the minister added. He said the six-year programme would seek to help increase and sustain cocoa production in Ghana through the rehabilitation and replanting of old and diseased cocoa trees.

Besides replacing moribund and diseased cocoa trees with hybrid cocoa variety, the programme would also embark on Good Agronomic Practices (GAP) for increased and sustainable yields.

Cocoa Processing to rise by least in 3 Years, Bank says

Bloomberg

By Isis Almeida

Apr 24, 2012

Global cocoa bean processing this season will rise by 2.4 percent, the smallest gain in three years, according to Macquarie Group Ltd.

Bean grindings, an indication of demand, will reach 4 million metric tons in the 2011-12 marketing year started in October, the bank estimated in a report e-mailed today. Cocoa processing fell 6 percent in 2008-09 as global economies entered the worst recession since World War II, the bank said.

“At a time when the global economy is still struggling to recover to pre-2008 levels, especially in the major consumption hubs of Europe and North America, such a modest consumption growth should not come as a surprise,” Kona Haque, an analyst at the bank in London, wrote in the report.

Cocoa processing in Europe will see “minimal growth” from last season, she said. Grindings in the EU will total 1.499 million tons in 2011-12, up from 1.479 million tons in 2010-11, data from the bank show. Processing in the U.S. is forecast at 415,000 tons in 2011-12, up from 397,000 tons last season, according to the data.

“The rise in global grindings we expect this season is mainly due to expansion in origin, of which Ivory Coast will rise the most,” Haque said. Producing countries account for 43 percent of global grindings, up from 30 percent in the 1990s, she said. Ivory Coast is the world’s biggest cocoa grower.

Bean processing will rise 3 percent to 4.1 million tons in the 2012-13 season that starts in October, “as the economic outlook improves,” according to the report.

Cocoa Butter

Sales of cocoa butter, which accounts for as much as 20 percent of a chocolate bar, will remain stronger than those of cocoa powder, used in cookies and ice-cream, Haque said. Demand for cocoa powder is being driven by emerging markets, she said, adding that powder price gains have begun to stall.

“This could suggest that grinders are well covered and thus orders have been easing, or that supply availability has improved in response to the attractive prices over preceding months,” she said.

Gold, cocoa, oil exports earn Ghana $3.8b in 2012 – Bank of Ghana



By Emmanuel K. Dogbevi/

Apr 23rd, 2012

Ghana earned $3.8 billion from merchandise exports, preliminary estimates of total exports for the first three months of 2012 by the Bank of Ghana shows. The earnings represent a year-on-year growth of 22.8 per cent according to the central bank.

The Bank indicates that the growth in export earnings continues to be driven by gold, cocoa beans and crude oil. “Exports of gold amounted to $1.5 billion, cocoa beans $939.8 million and crude oil $689.6 million. Other exports, including non-traditional exports, amounted to $675.2 million during the period,” says the governor of the Bank, Mr. Kwesi Amissah-Arthur.

Giving a breakdown, the Bank says, total non-oil imports amounted to $3.6 billion of which capital imports was $781.2 million, intermediate imports $1.7 billion, consumption imports $775.8 million and others US$251.8 million.

However, the Bank reports that total merchandise imports provisionally amounted to $4 billion in the first quarter of 2012, representing a year-on-year growth of 19.8 per cent. Oil imports, including crude, gas and refined products amounted to $457.2 million compared with $692.2 million for the same period of 2011, it adds. “These developments in the merchandise trade resulted in a trade deficit of $202.1 million compared with a deficit of $246.1 million for the same period in 2011,” says Mr. Amissah-Arthur.

Money Managers almost Double Bets on higher cocoa prices

Bloomberg

By Isis Almeida

Apr 23, 2012

Money managers almost doubled bets on higher cocoa prices in London in the week ended April 17, according to NYSE Liffe, the derivatives arm of NYSE Euronext.

Net-long positions, or bets on higher prices, stood at 2,959 futures and options as of April 17, according to the weekly commitment of traders report published on the exchange’s website today. That compares with 1,483 contracts a week previously, NYSE Liffe data show. Cocoa rose 7 percent in the period.

Robusta coffee money managers increased their net-long position to 9,714 contracts, up from 9,174 futures and options a week earlier, according to the data. Robusta coffee advanced 1.2 percent in the period.

In white, or refined, sugar, money managers trimmed bets on higher prices to 8,833 futures and options, the data show. That compares with a net-long position of 10,411 contracts a week earlier. White sugar declined 3.9 percent in the period.

In feed wheat, money managers increased their net-short position, or bets on lower prices, to 897 futures and options as of April 17 from 735 contracts a week earlier, the data show. Feed wheat climbed 3.5 percent in the period.

West Africa: The Trajectory of Region's Cocoa

-

By Rohan Patnaik,

24 April 2012

Driving north from the deepwater port of San Pedro in Côte d'Ivoire, one is immediately surrounded by the region's Theobroma cacao trees, iconic in that they define not only the environment of West Africa but also its economic and political history.

The region was once noted for its vast resource reserves - the British appropriately christened present-day Ghana the "Gold Coast", while the French named their region Côte d'Ivoire after the area's elephant population.

It was not until the 1870s that a land-owning Gold Coast native, named Tetteh Quarshie, traveled to the Spanish slave island of Fernando Po (now Bioko) and brought back cocoa beans to be planted alongside the other already-established cash crops--coffee and palm oil. The timing was perfect: abolitionist movements had gained momentum and slave-produced cocoa had become unmarketable - "enter Cadbury, looking for scandal-free beans, and soon the cocoa farmers of Gold Coast were enjoying brisk trade" (Bitter Chocolate 97). By 1920, the Gold Coast had become the leading cocoa bean exporter in the world.

In 1956, the Gold Coast gained independence from Great Britain and its founding leader Kwame Nkrumah named the new country, Ghana. As a vehement pan-African leader, Nkrumah envisioned an independent Africa, free of its former oppressors. One of his first initiatives entailed the creation of a national cocoa cartel wherein local farmers could fix the price of the beans. It wasn't long until the large cocoa buyers retaliated; Hershey, in particular led the movement to destroy the cartel.

Taking immense loans from American banks, Hershey cornered the market: "the company sat on the beans until the price started to climb and then they flooded the market. The result was predictable. That was the end of Africa's cocoa cartel" (Bitter Chocolate 100).

Farmers were pushed out of work and Nkrumah's credibility - already questioned due to allegations of corruption - was lost. Cocoa supplies dwindled and chocolate companies found an alternative supply source: they moved next door to Côte d'Ivoire.

Today, the two countries together produce up to 70% of the world's cocoa output. However, the rise of Ghanaian cocoa roughly coincides with the Ivorian civil war. On the French side of the border, matters played out differently, primarily due to the role of Felix Houphout-Boigny.

Born to a prominent family of Baoulé landowners in 1905, the young Houphout-Boigny remained uninterested in politics until well into his career. For most of his life, he maintained his family's cocoa plantation, competing with French plantation owners for access to labor. As cocoa demand began to rise, the French enacted largely discriminatory policies against the indigenous plantation owners. With the institution of a two-tiered price structure "that gave more money per pound to French-produced beans than to African ones," Felix Houphout-Boigny entered the political arena.

In 1944, amid rising tensions between French and local elites, he launched the Syndicat Agricole Africain (African Farmers' Union), with the intent of receiving equal prices for African-produced cocoa. By 1945, when France first allowed for a colonial election, Houphout-Boigny launched the Parti Démocratique de la Côte d'Ivoire (PDCI) and secured a position as a sitting member of the French Parliament.

In the post-WWII period, as colonial administrators began to focus on rebuilding back home, economic conditions on the African continent declined. As commodity prices bottomed out and farmers began to receive less for their produce, civil tensions heightened. When the PDCI finally convinced Ivorians to protest in the streets, French troops retaliated, killing 52 people and arresting three PDCI party leaders including Houphout-Boigny. He immediately rose to fame, fueling unrest not only in Côte d'Ivoire but across West Africa.

However, in 1950 Houphout-Boigny suddenly changed positions. France had made it difficult for the PDCI: opposition parties were fueled financially and it became "legally impossible for those without colonial support to organize." Realizing the immediate necessity to work within the confines of the colonial administration, Houphout-Boigny wrote: "A new page has been turned. On it, let us write a resolution to make Africa the most splendid and the loyal territory in the French union." His deference was soon rewarded. By 1956, Houphout-Boigny had become the first African minister in the French government, acting as Minister Discharging the Duties of the Presidency of the Council under President Guy Mollet. On Aug. 7, 1960, upon independence the 55-year old Houphout-Boigny became the first president of Côte d'Ivoire.

Under Le Vieux - as the autocrat was called - the Ivorian cocoa economy bloomed to become the largest cocoa producer in the world. Inviting laborers from Mali, Upper Volta (later Burkina Faso), and Guinea into the country, rain forests were leveled and replaced with cocoa plantations. Foreign investment were encouraged and stability was ensured. Political opposition was immediately squashed, creating to a politically limited yet economically strong environment. For Europeans and Americans, Houphout-Boigny was the ideal post-colonial leader: "an administrator who was firm with his own people but open to outside investment." Within time, the growth of Côte d'Ivoire came to be known as the Ivorian Miracle.

Côte d'Ivoire was built on cocoa. "It was Felix Houphet-Boigny who created the cocoa industry in Côte d'Ivoire," says former Ivorian Ambassador Pascal Kokora, a close friend of the late president, Laurent Gbagbo. "Before him, the country was much more forested. He was the one who brought in the farmers from the north - from Burkina Faso. It was because of him that we ended up becoming the largest cocoa producer in the world, at one point producing up to 70% of the world's cocoa."

In fact, both countries regulate both industries completely differently. "The cocoa industry in Côte d'Ivoire is heavily liberalized," says Arvind Panagariya, former head of the Asian Development Bank. "On the other hand, Ghana has maintained a base price."

"We are forced to sell our cocoa for half of what they sell in Ghana!" bemoans Amadou, a cocoa cooperative director in the Soubre region of Côte d'Ivoire. For 16 years, Rufin Gbogbo, the director of REPROCC-CI has been working in the cocoa industry, forced to deal with the big players (ADM, Barry Callebout, Cargill - ABC). He has essentially operated at the whim of these players, and tells of the great problems associated with the structure of the cocoa industry.

"Because there is not a standard, mandatory price in Côte d'Ivoire, we are forced to sell extremely low to anyone who comes to us. It is a completely different system," says Amadou. "Gbagbo attempted to change this at one point but it failed. Now, we have Outtarra whose son-in-law now heads the Africa division for Armajaro, the largest cocoa and coffee hedge fund in the world."

The lessons learned from the cocoa industry in West Africa remain essential for Rwanda. However, given the Rwandan agricultural sector's prowess in coffee production, the country also has many lessons to teach West African producers. In particular, Rwanda has learned the benefit of value addition.

"One of the most popular industries for US investors is the coffee industry," says Bonny Musefano, the commercial attaché at the Rwandan Embassy in DC. "We export our coffee to Starbucks and Costco. Our coffee, premium arabica coffee, is very sought after and the big buyers seem to realize how good Rwandan coffee is."

A U.S.-backed program called PEARL (Partnership for Enhancing Agriculture in Rwanda Through Linkages) has been helping Rwanda's coffee growers to organize themselves and invest in new washing stations, thereby improving the quality of their coffee. The program has introduced Rwandan coffee growers to American and European buyers of specialty coffee, adding many companies to Rwanda's coffee buyers which in the past has included Starbucks.

Much of this has been due to the Rwandan government's method of courting investment. According to Dan Cooper, a partner at the investment firm Fox River Financial Resources, Rwanda is "an African nation that's reaching out, not to governments so much, but to corporate America. They want to work. They want U.S. business to bring innovation to their country."

"We essentially go to specific companies across the US but also place ads," says Musefano. "We go through the online platforms, do the groundwork and reach out then reach out to these companies throughout the states. We are very keen to use our honorary consulates throughout the country to help us identify and meet with investors."

What Rwanda has done is a model to export to all commodity industries throughout Africa.

Good weather spell lifts Ivorian mid-crop cocoa hopes

Reuters Africa

By Loucoumane Coulibaly

Apr 23, 2012

* Downpours and sunny weather in cocoa regions

* Concerns in the coast as dry weather persists

ABIDJAN, April 23 (Reuters) - Adequate rains mixed with sunny spells last week in most of Ivory Coast's cocoa growing regions provided adequate growth conditions for the top producer's April to September mid-crop cocoa, farmers and analysts said on Monday.

In western, southern and eastern cocoa regions, farmers said rainfall during past week offered ideal conditions to boost the development of cocoa pods, however, continued dry conditions in the coastal regions raised some concerns.

Ivorian mid-crop usually runs from April to September, but this season, farmers have said the harvest would start slightly later and would be smaller compared with the previous season because of a four-month drought from November to March.

Farmers said the weather from now until late May would be key to the outcome of the mid-crop as abundant and regular rains per week mixed with sunny spells, would pave the way for a good quality and abundant crop harvest from June to August.

In the western region of Soubre, at the heart of the Ivorian cocoa belt, analysts reported about 29 millimetres of rainfall during two days last week compared with 16 mm the week before.

Farmers said they were happy with the downpours as it would help beans develop in pods, while some farmers added that harvest has started in several plantations but significant volumes would be seen in about amount a month.

"The humidity level is satisfactory. The rains will help beans in the pod to grow," said Salam Kone who farms in the outskirts of Soubre.

"The harvest (mid-crop) has started but quantities are small. I think the quality will improve in May," said Kone.

In the southern region of Aboisso, analyst reported 23.1 millimetres of rains compared with 8.4 mm the previous week.

Farmers said they were expecting abundant crop from June if rains stayed regular because flowers and small pods were proliferating in plantations because of good humidity and growing conditions. Similar growing conditions were reported in the southern region of Divo and Agboville. In the eastern region of Abengourou, analysts reported about 60 mm of rainfall compared with 69.5 mm the previous week. "It is raining in the bush and this has given us great hope for the mid-crop. But we need good rains until the end of May," said Attoungbre Kouame who farms near Daloa.

In coastal regions of San Pedro and Sassandra, farmers said the lack of rains for several weeks was raising some concerns about the mid-crop. "It's not raining right now and there are not enough flowers on and 'cherelles' (small pods) on trees because of the dry conditions," said Tchorna Silue who farms in the area.

Scientists advance field of research with publication of newly validated method

for analyzing flavanols in cocoa

Science Codex

By: Mars Symbioscience

April 24, 2012

A method for the analysis of flavanols in cocoa has been developed by a team of researchers from Mars Botanical, a scientific division of Mars, Incorporated, and recently published in the Journal of AOAC International. Drawing on the research team's expertise in flavanol chemistry and analytics, the method identifies and quantifies the distinct stereochemical forms of flavanols found in cocoa and chocolate products. Foods rich in flavanols are increasingly recognized for their ability to exert positive effects on the cardiovascular system, but investigations have shown that the distinct chemical structure (stereochemistry) of a flavanol influences its absorption, metabolism, and consequently its ability to exert beneficial effects. This validated method could therefore have important implications for future investigations.

"By clearly identifying the specific stereochemical forms of flavanols in cocoa, this method can help establish stronger connections between cocoa flavanols and cardiovascular health. Our goal was not only to develop a method that could be used by Mars, but instead to validate one that could be widely implemented using standard analytical equipment in order to advance research in this field," commented Dr. Catherine Kwik-Uribe, study author and R&D Director at Mars Botanical.

Flavanols are a group of natural compounds that can be particularly abundant in cocoa and are also found in foods such as grapes, apples, and tea. Data from epidemiological studies and dietary interventions demonstrate that flavanol-rich foods can have a positive impact on cardiovascular function and health. Importantly, however, the flavanols in foods have different stereochemical forms, specifically (–)-epicatechin and (+)-epicatechin, and (–)-catechin and (+)-catechin. Some of these forms, notably (–)-catechin and (+)-epicatechin, are present in foods almost exclusively as a result of food processing.

However, these stereochemical changes are more than just interesting chemical conversions. Previous research has identified (–)-epicatechin as a critical, biologically active component of cocoa that is capable of mediating improvements in cardiovascular function. A collaborative study published in January 2011 by researchers from the University of California, Davis and Mars, Incorporated went one step further and revealed the crucial importance of flavanol stereochemistry. Specifically, the 2011 study highlights that, of the stereochemical forms of epicatechin and catechin, (−)-epicatechin is the most absorbed by the body – almost six times more than (–)-catechin. This clear demonstration of the profound impact of stereochemistry on flavanol absorption reinforces the need to identify and quantify the exact flavanol forms present in foods when considering their cardiovascular health impact. The recently published Journal of AOAC International paper provides a validated method for exactly this.

"This newly validated method addresses important gaps in our knowledge. In particular, it helps improve our understanding of the impact of food processing on the flavanol content of foods such as cocoa – a crucial step towards the development of optimized food products to support health", commented Dr. Kwik-Uribe. "What's more, by identifying which flavanols are actually in the foods we eat, methods such as this enable a more detailed look at epidemiological studies and intervention trials. This brings us closer to being able to provide meaningful dietary recommendations."

The method has been published in the Journal of AOAC International. This research was conducted by a team of researchers from Mars Botanical, a scientific division of Mars, Incorporated, and forms part of a wider body of work examining cocoa flavanols, their chemistry and benefits to health.

Chocolate makers push for quality cocoa in Peru

Calgary Sun

By Caroline Stauffer, Reuters

April 26, 2012

Peru cocoa Native cocoa beans, left, and beans from the CCN-51 cocoa hybrid are shown to the photographer at the Guanni Chocolates shop in Lima March 9, 2012.

LIMA - Connoisseurs who take chocolate as seriously as sommeliers study wine are challenging the widespread use of an inferior cocoa pushed by the U.S. government in its war against drugs in Peru, considered by many to be the birthplace of cocoa.

The U.S. Agency for International Development, or USAID, introduced the high-yielding but acidic tasting CCN-51 cocoa hybrid to Peru in 2002 to offer farmers an alternative to planting coca - the key ingredient in cocaine.

The program has had some success but chocolate makers are encouraging farmers to instead cultivate smaller amounts of rare, native cocoa that fetches higher prices from buyers who value complex and subtle flavours and judge chocolate by the personality of its cocoa, like the nose of a fine wine.

“I don’t understand why USAID is here, in a country so rich in diversity, where everything is virgin. What need is there to introduce new varieties?” said Mariella Balbi, owner of the tiny firm Guanni Chocolates, which sells in California and in Lima.

She sells boxes of 12 dark chocolate truffles made from Peru’s native white cocoa and filled with local ingredients like pisco brandy and Amazonian fruits for $40.

USAID says it has a foreign policy mandate to curb coca production by encouraging alternative cash crops, not to cater to gourmets. But it also says it may be open to commercializing native varieties in the future and it is sponsoring a contest to encourage farmers to cultivate more native cocoa.

“We want to help Peru become one of the world’s leading specialty cocoa producers,” said Loren Stoddard, director of alternative development at USAID in Peru.

Specialty cocoa can refer to organic, fair-trade or native cocoa. Gourmets say nothing makes better chocolate than native cocoa.

Building on a culinary and economic boom in Peru, start-up chocolate makers are holding tastings to highlight accents ranging from nutty to floral in chocolate made from cocoa native to distinct microclimates, altitudes and latitudes.

They say Peru will never become a global bulk cocoa supplier like the Ivory Coast, so they instead want it to be the main cocoa source for high-end chocolate makers.

“USAID did a fine job developing an alternative crop with CCN-51, but times change. What people want changes,” said pastry chef Astrid Gutsche, wife of Peruvian food icon Gaston Acurio. “This idea of native cocoa is quite new and I believe it’s the future for Peru. We have something that no one else has.”

Gutsche hopes to promote Peruvian chocolate the way her husband, who owns restaurants on several continents, helped to introduce Peruvian cuisine to the world. She has traveled to remote jungle areas hoping to convince farmers to find and cultivate naturally growing cocoa varieties instead of CCN-51.

It can be a tough sell. Peru and its neighbor Colombia are the world’s biggest cocaine producers and when farmers do abandon coca planting they usually choose the highest-yielding alternative crops.

CCN-51 cocoa, developed in Ecuador in the 1960s and planted throughout Africa to supply makers of mass-produced chocolate, grows faster and yields more than most native varieties.

“There is a lot of pressure to plant CCN-51 from institutions,” said Juan Rojas, who leads a farmer’s cooperative in the northwest region of Piura that grows native white cocoa.

CCN-51 is considered a “bulk” rather than “fine-flavour” cocoa by the International Cocoa Organization (ICCO), and it is more resistant to the witches’ broom disease that slashed output in neighbouring Brazil, once the world’s No. 2 cocoa producer.

Rojas says Piura’s native white cocoa yields one third less per hectare than CCN-51 but that some European chocolate makers are buying it for $4,000 per tonne. Bulk cocoa fetches around $2,300 per tonne on the New York futures market.

$12 CHOCOLATE BARS?

Luxury chocolate makers value Piura cocoa’s soft white flesh for its earthy, slightly nutty traces. They say it does not have the acidic taste often found in chocolate made from CCN-51.

Proponents of native cocoa believe prices paid to farmers will further increase as the market develops, citing a growing demand for single-origin foods at U.S. stores like Whole Foods and Trader Joe’s.

The market for native cocoa has been discussed in the world’s elite chocolate circles as a way to craft richer, more diverse treats while protecting rare cocoa varieties in danger of extinction.

“We want to come up with a system in which we actually link the chocolate bar directly with the origin for commercial purposes,” said Moises Gomez-Miranda, a project manager at ICCO.

The London-based organization says the demand for fine flavor cocoa has started to grow very rapidly.

Native cocoa from Venezuela’s famed Chuao region can fetch up to $10,000 per tonne though the country’s overall cocoa production has fallen in recent years due to economic turmoil.

Peru is especially interesting for native cocoa fans because new varieties are still being identified in its part of the Amazon rain forest, where Spanish ’conquistadores’ found the crop five centuries ago.

“The Peruvian Amazon is the cradle of cocoa and it’s home to very important genetic clusters,” said Maricel Presilla, a U.S.-based food historian and author of “The New Taste of Chocolate.”

“Now that they have been identified genetically it is time to propagate, time to grow them. Money has to be placed into research expeditions and germ plasm banks,” she said.

No one knows how many types of cocoa lurk in Peru’s mountains and jungles, but two Americans recently stumbled on one genetic variety that was thought to be extinct. Now, Swiss chocolate makers produce bars out of Maranon’s Pure Nacional cocoa with equipment developed in the 1800s, when Nacional was one of the world’s most coveted cocoas.

Moonstruck Chocolate, a company in Oregon, sells packs of 12 chocolate bars made with 68% Maranon cocoa for $144. A 36-pack box of Hershey’s bars, in comparison, sells for $19.95.

QUALITY NOT QUANTITY

Critics, however, say farmers are not yet paid high enough prices for native cocoa to justify the lower output. Few people are willing to pay $12 for a chocolate bar or care to pinpoint the exact location of its ingredients, they say.

“I just got back from Europe — organic and fair trade are what’s in demand. They aren’t fixated on type, it could be CCN-51 it could be something else,” said Rolando Herrera, President of APPCACOA, Peru’s largest cooperative of cocoa growers and a USAID partner.

After the Dominican Republic, Peru says it is the world’s No. 2 exporter of organic cocoa, which is worth between $100 and $300 more per tonne than bulk cocoa according to the ICCO. Rare native types, like Peru’s Maranon Pure Nacional or Venezuela’s Chuao, are worth much more.

Cocoa grown by former coca-planting farmers supported by USAID is sold as La Orquidea chocolate bars alongside Lindt and Toblerone in Peruvian grocery stores. In 2010, those farmers won a certificate at the Salon de Chocolat in Paris, surprising purists who consider CCN-51 incapable of producing quality chocolate.

Herrera says hybrids like CCN-51 can be considered organic, depending on how they are grown, and that the cooperatives are working with scientists to develop a new, better-tasting hybrid by grafting the CCN-51 onto native cocoa.

But Guanni Chocolate’s Balbi says that practice endangers native varieties, which are becoming harder to find. She wants farmers to focus less on quantity and more on quality.

“Peru is a country of fine, aromatic cocoa, and like all good things it comes in small quantities.”

[pic][pic]

-----------------------

Do your health a favour, drink Cocoa everyday

‘It’s nature’s miracle food’

o Meeting of the International Organizing Committee for the 17th International Cocoa Research Conference, (ICRC) Yaounde, Cameroon, 24th April to 3rd May 2012.

• ICCO DAILY COCOA PRICES

• LONDON (LIFFE) FUTURES MARKET UPDATE

• NEW YORK (ICE) FUTURES MARKET UPDATE

• FROM THE NEWS MEDIA

UP-COMING EVENTS IN THIS ISSUE

Inside THIS ISSE:

ISSUE NO. 490 MAY 2012

[pic]

Research & Development

Environmental Issue

Labour Issues

Business & Economy

Processing & Manufacturing

The Market

Production & Quality

Health and Nutrition

NEWS

Others

Promotion & Consumption

................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download