COPAL COCOA Info. 501.doc · Web viewSwiss-based chocolate maker Barry Callebaut is also planning to boost grinding capacity this year. As part of a sweeping reform of the cocoa sector,

INSIDE THIS ISSE: ICCO DAILY COCOA PRICES LONDON (LIFFE) FUTURES

MARKET UPDATE NEW YORK (ICE) FUTURES

MARKET UPDATE FROM THE NEWS MEDIA

COPAL COCOACOPAL COCOA InfoInfo A Weekly Newsletter of Cocoa Producers' Alliance

Health and Nutrition Cocoa's Polyphenol Riches – All the Health

Benefits without the Sugar, Calories and Guilt

Production and Quality Osun to partner FG in promoting Agriculture

The Market SOFTS-Coffee edges higher, eyes on Brazil, cocoa

steady

Processing and Manufacturing UPDATE 1-CEMOI to boost Ivorian cocoa

grinding to 100,000 T

Business & Economy

Labour Issues

Environmental Issue

Research & Development

Promotion & Consumption

Others Ghana: Cocoa Foundation honours COCOBOD

Boss

Do your health a favour, drink Cocoa everyday

‘It’s nature’s miracle food’UP-COMING EVENTSUP-COMING EVENTS IN THISIN THIS

Issue No. 501 16th – 20th July 2012

In the News (from Newspapers worldwide)

ICCO Daily Cocoa PricesICCO Daily Price

(SDR/tonne)ICCO Daily price

($US/tonne)London futures

(£/tonne)New York futures

($US/tonne)

16th July 1517.57 2277.91 1499.33 2212.67

17th July 1512.01 2277.02 1498.00 2217.00

18th July 1517.01 2281.76 1497.67 2222.67

19th July 1535.31 2315.86 1519.00 2245.00

20th July 1540.05 2318.89 1527.00 2252.00

Average 1524.00 2294.00 1508.00 2230.00

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: [email protected] Website: www.copal-cpa.org2

mailto:[email protected]

International Financial Futures and Options Exchange (LIFFE)London Futures Market – Summary of Trading Activities

(£ per tone)

Monday 16th July 2012 Month Opening Trans Settle Change High Low Volume

Jul 2012 1540 1518 -22 1550 1525 399Sep 2012 1533 1502 -27 1538 1499S 5,470Dec 2012 1530 1504 -22 1532 1501 2,728Mar 2013 1515 1492 -20 1519S 1488S 2,093May 2013 1504 1493 -15 1510S 1491 468Jul 2013 1511 1497 -15 1512S 1495 135

Sep 2013 1508 1498 -15 1508 1495S 26Dec 2013 1518 1499 -19 1520 1500S 55Mar 2014 1504 -19 0May 2014 1515 -19 0

Average/Totals 1502 11,374

Tuesday 17th July 2012 Month Opening Trans Settle Change High Low Volume

Jul 2012 N/A N/A N/A N/A N/ASep 2012 1505 1501 -1 1518S 1488 6,370Dec 2012 1508 1500 -4 1515S 1486S 2,894Mar 2013 1495 1493 1 1504S 1478S 2,211May 2013 1497 1497 4 1506S 1480 1,336Jul 2013 1498 1503 6 1513S 1489S 1,158

Sep 2013 1507 1504 6 1508S 1496 42Dec 2013 1506 7 0Mar 2014 1511 7 0May 2014 1514 -1 0Jul 2014 1514 0


Wednesday 18th July 2012 Month Opening Trans Settle Change High Low Volume

Jul 2012 N/A N/A N/A N/A N/ASep 2012 1503 1501 0 1507 1488 3,197Dec 2012 1502 1499 -1 1504S 1485 2,150Mar 2013 1487 1493 0 1497S 1480 2,441May 2013 1497 1497 0 1499S 1483S 979Jul 2013 1502 1502 -1 1505 1490S 146

Sep 2013 1499 1501 -3 1500S 1498 30Dec 2013 1502 -4 0Mar 2014 1507 -4 0May 2014 1510 -4 0Jul 2014 1510 -4 0


ALLIANCE OF COCOA PRODUCING COUNTRIES, NATIONAL ASSEMBLY COMPLEX, TAFAWA BALEWA SQUARE, P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234-70-9814-1735; +234-70-

9814-1736; FAX: +234-1-290-4262 Email: [email protected] Website: www.copal-cpa.org

3

http://www.nybot.com/reports/dmrs/etsDMRs/dmrFutures.asp?dmrMonth=04&dmrDay=11&dmrYear=2007&commodityID=1&commodityType=future

http://www.copal-cpa.org/







Thursday 19th July 2012 Month Opening Trans Settle Change High Low Volume

Sep 2012 1513 1532 31 1556S 1510 6,829Dec 2012 1514 1520 21 1543S 1509S 3,402Mar 2013 1510 1505 12 1525S 1500 2,859May 2013 1509 1504 7 1521 1498S 856Jul 2013 1516 1508 6 1520 1502S 324

Sep 2013 1513 1510 9 1515S 1509S 76Dec 2013 1513 1510 8 1513S 1509S 30Mar 2014 1515 8 0May 2014 1518 8 0Jul 2014 1518 8 0


Friday 20th July 2012 Month Opening Trans Settle Change High Low Volume

Sep 2012 1529 1543 11 1554S 1523 3,125Dec 2012 1518 1526 6 1535S 1512 1,537Mar 2013 1503 1512 7 1522S 1498S 1,361May 2013 1499 1512 8 1522 1496S 1,107Jul 2013 1506 1515 7 1525 1506 33

Sep 2013 1521 1518 8 1521S 1521S 4Dec 2013 1520 10 0Mar 2014 1525 10 0May 2014 1528 10 0Jul 2014 1528 10 0


Average for the week 1523 1303 1303



4










New York Board of Trade(New York Futures Market – Summary of Trading Activities)

(US$ per tone)

Monday 16th July 2012 Month Open Price Change High Low Volume

Jul 2012 0 2197 -13 0 0 0Sep 2012 2217 2197 -19 2236 2176 11,372Dec 2012 2234 2216 -17 2251 2195 5,388Mar 2013 2245 2232 -17 2266 2210 2,153May 2013 2255 2246 -16 2265 2225 1,166Jul 2013 2268 2261 -12 2275 2248 103

Sep 2013 0 2271 -12 0 0 0Dec 2013 0 2282 -12 0 0 0Mar 2014 0 2292 -12 0 0 0May 2014 0 2303 -11 0 0 0

Average/Totals 2250 20182

Tuesday 17th July 2012 Month Open Price Change High Low Volume

Jul 2012 0 0 0 0 0 0Sep 2012 2208 2195 -2 2220 2159 10,277Dec 2012 2224 2212 -4 2234 2178 2,273Mar 2013 2235 2228 -4 2240 2195 2,083May 2013 2252 2241 -5 2252 2207 576Jul 2013 2264 2254 -7 2266 2227 242

Sep 2013 2274 2265 -6 2274 2274 26Dec 2013 2286 2276 -6 2286 2286 13Mar 2014 2283 2285 -7 2283 2283 24May 2014 2290 2295 -8 2290 2290 34


Wednesday 18th July 2012 Month Open Price Change High Low Volume

Jul 2012 0 0 0 0 0 0Sep 2012 2207 2204 9 2217 2169 6,778Dec 2012 2215 2221 9 2232 2185 2,945Mar 2013 2227 2237 9 2240 2202 1,528May 2013 2239 2250 9 2260 2215 860Jul 2013 2250 2263 9 2268 2234 206

Sep 2013 2259 2275 10 2259 2259 53Dec 2013 2269 2286 10 2269 2268 33Mar 2014 0 2296 11 0 0 15May 2014 2303 2306 11 2303 2303 1


Thursday 19th July 2012



5









Month Open Price Change High Low VolumeSep 2012 2215 2230 26 2285 2215 12,036Dec 2012 2234 2244 23 2296 2233 2,823Mar 2013 2250 2258 21 2303 2250 2,255May 2013 2290 2271 21 2314 2264 870Jul 2013 2280 2283 20 2328 2273 279

Sep 2013 2298 2293 18 2329 2281 157Dec 2013 2308 2303 17 2315 2296 90Mar 2014 0 2313 17 0 0 4May 2014 0 2323 17 0 0 3


Friday 20th July 2012 Month Open Price Change High Low Volume

Sep 2012 2227 2229 -1 2257 2217 7,679Dec 2012 2237 2245 1 2271 2231 2,219Mar 2013 2245 2258 0 2282 2245 776May 2013 2276 2272 1 2285 2273 207Jul 2013 2292 2285 2 2299 2286 134

Sep 2013 2300 2295 2 2302 2299 70Dec 2013 2309 2304 1 2310 2308 107Mar 2014 0 2314 1 0 0 0May 2014 0 2325 2 0 0 0


Average for the week 2281 2238 2238



6










News

Cocoa's Polyphenol Riches – All the Health Benefits without the Sugar, Calories and GuiltProHealthBy Karen Lee Richards* • ProHealth.com • July 20, 2012

ChocoLift Chocolate ExtractChocolate was treasured as a bitter, invigorating elixir by the ancient peoples of Central America, but it’s only now that scientists can sort out the beneficial compounds involved and distill them into supplement form.

Few foods stir the passions or evoke pleasurable responses more than chocolate. Who among us has not comforted ourselves with a dish of chocolate ice cream? Or tried to relieve stress with a cup of hot cocoa? Or sought an energy boost in the form of a chocolate bar?

Chocolate is a guilty pleasure most of us indulge in at least once in a while.

But maybe we don't have to feel so guilty.

The good news – Researchers are discovering that our natural inclination to reach for chocolate when we're depressed or need an infusion of energy has scientific validity. They have uncovered some significant health benefits associated with the complex chemistry of chocolate - including compounds supporting improvements in:

• The release of energy (even in a trial involving people with chronic fatigue syndrome) • Fat burning • Mood, anxiety, stress • Concentration and alertness • And cardiovascular health.

The bad news – Because pure chocolate is bitter and all but impossible to eat, additional ingredients like milk and sugar are added to make it more palatable. Unfortunately, the added ingredients that make it so tasty can also cause weight gain and increase blood sugar levels, thereby counteracting many of its health benefits.

The solution – There is a natural and safe chocolate supplement - ChocoLift™ by Source Naturals - that can provide the health benefits of chocolate on a daily basis without all the sugar, fat, calories and guilt that accompany eating chocolate candy.

The Tasty Origins of Chocolate

The exact time and place where the source of chocolate, the cacao tree, was first cultivated remains a mystery. Archeologists think it was discovered by either the Olmec or the Mayan civilization around 1000 BC in the corridor of land we now know as Central America. Because the cacao tree requires a tropical mix of high rain fall, high year-round temperatures and high humidity, then as now, it can only be grown in geographical areas approximately 20 degrees either side of the Equator.



7

NEWS

Health and Nutrition



Chocolate comes from the beans of the tropical Theobroma cacao tree. Because the Mayans considered cacao to be of divine origin, the tree's scientific name comes from a combination of the Greek word theobroma, meaning “food of the gods,” and the Mayan word cacao, meaning “god food.”

Aztec Emperor Montezuma II was a great lover of cocoa, describing it as:

“The divine drink, which builds up resistance and fights fatigue. A cup of this precious drink permits a man to walk for a whole day without food.” - Hernán Cortés, 1519

Montezuma also regarded cocoa as an aphrodisiac and was said to drink it 50 times a day from a golden goblet.

The cacao bean was so prized by the Aztecs that they used it as currency rather than silver and gold. In fact, after Cortés and his conquistadors defeated Montezuma and searched his palace expecting to find gold and silver, all they found was a huge quantity of cacao beans. The rest of the world was first introduced to what we now call cocoa or chocolate when Cortés returned to Spain with some of their prized cacao beans in 1519.

The Science of Chocolate

Over the last dozen or so years, there has been a steady stream of scientific research demonstrating the multiple health benefits of cocoa and the confection made from it, chocolate. Following are a few examples of what scientists say chocolate may do for your body.

Promote Energy:

Theobromine is the primary alkaloid in chocolate responsible for its energy-boosting properties. Theobromine has been shown to stimulate the central nervous system for the release of energy. Chocolate also contains a small amount of caffeine - significantly less than in brewed coffee - that also aids in energy production.

A 2010 double blinded, randomized, clinical crossover pilot study investigated the effect of polyphenol rich chocolate in subjects with chronic fatigue syndrome (CFS).Ten subjects (6 females, 4 males) received either high cocoa liquor / polyphenol rich chocolate (HCL/PR) or simulated iso-calorific chocolate (cocoa liquor free / low polyphenols (CLF/LP)) for 8 weeks, with a 2-week wash out period, followed by 8 weeks of the other type of chocolate.

The results of the study were that:

• The Chalder Fatigue Scale scores improved significantly after 8 weeks for subjects in the HCL/PR chocolate arm, but deteriorated significantly later, when they were given simulated iso-calorific chocolate.

• The residual function, as assessed by the London Handicap scale, also improved significantly after the HCL/PR arm and deteriorated after iso-calorific chocolate. (Rehab specialists use this multi-factor scale to assess functionality.)

• The Hospital Anxiety and Depression score improved as well after the HCL/PR arm, but deteriorated after CLF/CP.

In addition, the researchers reported:

“Anecdotally, two subjects were able to return to work after having had their symptoms for a 2-year period and chose to continue on a high cocoa solid chocolate diet…. This study suggests that HCL/PR chocolate may improve symptoms in subjects with chronic fatigue syndrome.”(1)

To see a video reviewing this study, click here.

Support Brain Function:



8



Chocolate contains a number of methylxanthine alkaloids, including theobromine. Methylxanthines are highly fat-soluble molecules that are very bioavailable and easily absorbed in the stomach and intestine. Once in the bloodstream, these alkaloids quickly cross the blood-brain barrier and act as a stimulant for the brain, helping to improve alertness and cognition.

In a 2009 Harvard study, researchers looked at whether cocoa flavanols could support improved brain blood flow.

The suggestion being that long-term improvements in brain blood flow could impact cognitive behavior, offering future potential for debilitating brain conditions including dementia and stroke.

Thirty-four adults between the ages of 59 and 83 took part in this study. Transcranial Doppler (TCD) ultrasound was used to measure mean blood flow velocity in the middle cerebral artery in response to the regular intake of flavanol-rich cocoa or flavanol-poor cocoa.

The scientists found that study participants who regularly drank a flavanol-rich cocoa beverage [providing 900mg of flavanols daily] had an 8% increase in brain blood flow after one week, and a 10% increase in brain blood flow after two weeks.

In their conclusion, the researchers said:

“In summary, we show that dietary intake of flavanol-rich cocoa is associated with a significant increase in cerebral blood flow velocity in the middle cerebral artery as measured by TCD. Our data suggest a promising role for regular cocoa flavanol’s consumption in the treatment of cerebrovascular ischemic syndromes, including dementias and stroke.”(2)

Reduce Anxiety/Stress:

The reason we tend to think of chocolate as a “comfort food,” often using it to comfort ourselves when we're feeling down, can be explained by its biochemistry. Chocolate activates the neurotransmitters dopamine and norepinephrine. When dopamine is released, it stimulates feelings of pleasure and satisfaction and promotes the release of serotonin in the brain, which also stimulates feelings of calm and satisfaction.

In a 2009 clinical trial, investigators studied the metabolic responses of 30 free-living subjects, who were classified as low or high anxiety, to a daily consumption of 40 grams [1.4 ounces] of dark chocolate for up to 14 days.

Urine and blood plasma were collected at the beginning, middle and end of the two-week study to analyze global changes in metabolism due to the chocolate consumption. At the end of the two weeks, the scientists found that eating the chocolate regularly had resulted in:

• Reduced levels of stress hormones in the bodies of people feeling highly stressed. • A reduction of urinary excretion of the stress hormone cortisol and catecholamines. • Partial normalization of stress-related differences in energy metabolism.

The researchers concluded:

“The study provides strong evidence that a daily consumption of 40 grams [1.4 ounces] of dark chocolate during a period of 2 weeks is sufficient to modify the metabolism of healthy human volunteers.”(3)

Promote Cardiovascular Health:

Chocolate is especially rich in polyphenols, a group of protective antioxidant compounds. One group of polyphenols in chocolate of particular interest to scientists is flavonols. These naturally-occurring substances help protect the cells of our bodies from premature destruction



9



In addition, the polyphenols in chocolate have two other cardioprotective functions: They help to reduce the oxidation of LDL (bad) cholesterol and they inhibit blood platelets from clumping together.

In 2011, Harvard scientists conducted a systematic review and meta-analysis of 24 randomized, controlled trials with a total of 1106 participants to evaluate the effect of flavonoid-rich cocoa on cardiovascular risk factors.

They found that the daily intake of flavonoid-rich cocoa resulted in:

• A decrease in systolic blood pressure. • A decrease in LDL (bad) cholesterol. • An increase in HDL (good) cholesterol. • A decrease in insulin resistance. • An increase in flow-mediated vascular dilation.

The researchers concluded:

“Flavonoid-rich cocoa consumption significantly improves blood pressure, insulin resistance, lipid profiles, and flow-mediated vascular dialation.”(4)

Dr. Andrew Weil, a leader in the field of integrative medicine, also touts the cardiovascular benefits of chocolate:

“The latest news about chocolate - that it makes blood vessels more flexible -adds to accumulating evidence that chocolate offers a number of health benefits and may be good for the heart. Earlier findings had shown that chocolate contains polyphenols, the same kinds of antioxidants found in red wine and green tea; stearic acid, a type of fat that doesn't raise cholesterol levels; and flavonoids, which reduce the stickiness of platelets, inhibiting blood clotting and reducing the danger of coronary artery blockages.”(5)

To Eat or To Supplement...

Should you eat chocolate every day or take a supplement containing chocolate? Although eating chocolate certainly is a pleasurable sensory experience for most of us, we have to remember that the chocolate we eat also contains a lot of sugar, fat and calories. And some contend that the processing procedure chocolate goes through before it gets to the consumer destroys many of its healthful properties.

While enjoying a piece of chocolate - preferably dark chocolate - from time to time is usually fine unless you have a health condition that prohibits it, but eating a quantity of chocolate every day is not advisable. The best way to get the health benefits of chocolate without risking weight gain and high blood sugar is to take a supplement like ChocoLift™ that gives you a pure chocolate bean extract with no added sugar or fat.

Osun to partner FG in promoting AgricultureOsun DefenderJuly 20, 2012The governor of the State of Osun, Ogbeni Rauf Aregbesola, has reiterated his administration’s commitment to promoting agriculture to optimal level in the state. He stated this last Tuesday at the launching of the O-REAP Youth Academy and the roll-out of Growth Enhancement Support Scheme (GESS) programme on cocoa at Mukoro, in Ilesa-West Local Government Council Area.

Aregbesola, who was represented by his deputy, Otunba (Mrs) Grace Laoye-Tomori said that his administration has more interest in agriculture, which was why it encompassed three out of the six cardinal programmes of his government.



10

Production & Quality



He further stressed that the interest of his government could not only be due to the importance of agriculture to the economy of the state, but also to the fact that agriculture was one of the cardinal programmes of the ruling party, the Action Congress of Nigeria (ACN) in the state, as encapsulated in its Six-Integral Action Plan. “Three out of the Six-Integral Action Plan of the state government dove-tails into the agricultural sector of the economy directly or indirectly. These include, among others, the need to banish hunger, poverty and unemployment.

It is in realization of this that the State of Osun has taken the bull by the horns by injecting into the agricultural sector, a crop of enlightened and dedicated O-YES cadets. There is also the roll-out of Growth Enhancement Support Scheme (GESS) on Cocoa Chain Development. “The Government of the State of Osun, knowing fully well that agriculture is the main stay of the state’s economy and characterized by small holder farmers, focused on re-activating and rejuvenating the sector for it to perform the above role.

Some of the programmes and projects put in place to overhaul the sector are farm settlement, co-operative farming, large-scale farming and expanded land initiatives and additionally, the ceremony we are all witnessing today: O-REAP Youth Academy and Roll-out of Growth Enhancement Support Scheme (GESS) on Cocoa Chain Development”, Aregbesola said.

He stressed that the development of agricultural sector along the entire food chain from production to processing and marketing of which the state was tending towards, was the in-thing the world over.

This, he noted, was aimed at creating wealth, employment generation and food security, which were all the traditional roles of the sector, adding that it was in that regard that the government of the State of Osun had keyed-in to all the transformation agenda of the Federal Government in agriculture viz GESS, roll-out on Fertilizer, Federal Government World Bank Expansion of Commercial Agriculture Development (CADP); Nigeria Incentive Risk-based System for Agricultural Lending (NIRSAL) and in addition, the roll-out GESS on Cocoa Programme, which would be maintained by prompt payment of counterpart funds.

He noted that the government was doing its best to demonstrate its commitment to turning around the sector with the sole purpose of industrialising the state.

“I want to charge you all to take advantage of these enabling environment provided by our administration to transform the sector from the present peasant level to an industrial one.

“It is by so doing that you have reciprocated the kind gesture of our administration”.I want to assure you all that the government of the State of Osun will do everything possible to support you with all the necessary resources along the entire agricultural-chain development, with the view of making the state to be food-secure”.

In his remark, the representative of the Federal Minister of Agriculture, Dr. Gbenga Oyemomi noted that Osun, being one of the three major cocoa producing states in the country, necessitated the Federal Government to distribute agricultural chemicals to farmers.

According to him, “Federal Government would contribute 25%, state; 25%, while the farmers would add the remaining 50%. He stated that each of the chemicals to be distributed was put at N88,000, but that only N44,000 would be collected from the farmers. “Government is planning to distribute 3.6 million hybrid cocoa pods, which will yield in two and half years. This will make up two tonnes per hectare and produce high yield quality”

He added that out of the 35,000 cocoa farmers to be trained, 4,000 would come from the State of OsunOyemomi explained that the Federal Government was planning to establish a Cocoa Marketing and Trade Corporation to replace the Cocoa Marketing Board, which would be government-enabled, but private sector run, with the aim of increasing the state’s internally generated revenue.

The Commissioner for Agriculture and Food Security in the state, Mr. Wale Adedoyin noted that the government had taken bold steps to resuscitate agriculture through the establishment of the O’REAP Youth Academy.



11



In his words; “Government intends to raise young hands with interests in farming to replace the old hands and this will involve practical training with the aim of producing successful farmers”.

SOFTS-Coffee edges higher, eyes on Brazil, cocoa steadyReuters AfricaBy Sarah McFarlane; Jul 16, 2012 LONDON, July 16 (Reuters) - Coffee futures were slightly higher on Monday, supported by concerns over the impact of wet weather in Brazil both on the quality of the crop currently being harvested and the development of next season's crop, while cocoa and sugar markets were steady.

COFFEE

* Coffee futures edged higher in early trade as quality concerns remained in top producer Brazil following unseasonably wet weather over recent months.

* Benchmark September arabica coffee futures on ICE traded 1.2 cent or 0.6 percent higher at $1.8730 a lb at 0843 GMT.

* A bullish target at $1.9220 per lb remains intact for New York September coffee, as an uptrend from the June 18 low of $1.5010 has not completed, according to Reuters market analyst Wang Tao.

* Coffee exports from Mexico rose 9.1 percent in June compared with the same month a year earlier, totaling 321,131 60-kg bags in the month, Mexico's coffee association AMECAFE said on Friday.

* Stifel Nicolaus cut its earnings estimate for Green Mountain Coffee Roasters Inc on Friday, citing increasing competition for single-serve coffee cups for its Keurig machines, and shares of the company fell nearly 8 percent.

* Robusta coffee futures on Liffe were also higher, with September up $11, or 0.5 percent, at $2,074 a tonne.

COCOA

* Cocoa futures were little changed following an increase in Malaysia's quarterly cocoa grindings, after last week's sharp fall in European grindings cast a shadow over global cocoa demand.

* Cocoa grindings in Malaysia rose 3.3 percent to 74,493 tonnes in the second quarter of 2012 compared with the same period last year, the Malaysian Cocoa Board said on Monday.

* ICE September cocoa futures eased $2 or 0.1 percent to $2,114 a tonne, consolidating above Thursday's two-week low of $2,174.

* New York September cocoa will rise to $2,275 per tonne, due to the completion of a corrective cycle on the fall from $2,375 to $2,175, according to Reuters market analyst Wang Tao.

* London September cocoa was down 2 pounds or 0.1 percent at 1,527 pounds per tonne.

SUGAR

* Sugar futures were steady with all eyes on weather, as dryer conditions in Brazil were expected to help the top producer's harvest catch up after rains caused delays, and monsoon rains in India aided crop development.



12

The Market



* The progress of the monsoon rains in India, the world's largest sugar consumer, will play a big role in determining physical prices this week while any sales of excess sugar from China could weigh on Thai premiums, dealers said on Monday.

* Benchmark sugar futures on ICE were unchanged at 22.73 cents a lb. The contract touched 23.05 cents last Tuesday, the highest level for the benchmark front month since April 18.* Mexico produced 5.05 million tonnes of sugar during the 2011/12 harvesting season, down 2.5 percent from the previous harvest, according to figures published on Friday by Mexico's National Cane Workers' Union.

* Speculators more than tripled the size of their net long position in raw sugar contracts on ICE Futures U.S. in the week to July 10, as the futures contract soared 5 percent to a two-month high, U.S. Commodity Futures Trading Commission (CFTC) data showed on Friday.

* New York Oct sugar is biased to revisit its July 12 low of 22.16 cents per lb, as suggested by its wave pattern and the MACD indicator, according to Reuters market analyst Wang Tao.

* White sugar futures on Liffe rose, with August up $4.00, or 0.6 percent, at $661.90 a tonne, having Thursday touched $663.80, the highest level for the benchmark front month since March 23.

MARKETS

* The euro hit a 3-1/2 year low against sterling and German bond prices extended last week's gains on Monday as investors worried the European Central Bank had changed its stance on how some bondholders could be treated under Spain's bank bailout.

* Brent crude held steady above $102 per barrel on Monday on optimism over the outlook for demand growth as China's Premier Wen Jiabao said the government would step up efforts to boost the economy of the world's second-largest oil consumer.

* The euro eased against the dollar on Monday, with the near-term focus on whether U.S. Federal Reserve Chairman Ben Bernanke will give any hint of additional monetary stimulus when he gives testimony to Congress in coming days.

UPDATE 1-CEMOI to boost Ivorian cocoa grinding to 100,000 TReutersBy Ange AboaJul 19, 2012 (Reuters) - French chocolate-maker CEMOI will boost its cocoa grinding capacity in top producer Ivory Coast to 100,000 tonnes by the end of 2012, the company's chief executive said on Thursday.

The company currently grinds around 70,000 tonnes of Ivorian beans a year at facilities in the commercial capital Abidjan. "By the end of the year, thanks to a 2 billion CFA franc ($3.74 million) investment, the bean-buying capacity of the site ... will reach 100,000 tonnes," Patrick Poirrier told journalists following a meeting with Ivory Coast's Prime Minister Jeannot Kouadio-Ahoussou.

In 2010, Ivory Coast became the world's top cocoa grinder with a capacity of 532,000 tonnes, turned mainly into cocoa butter and powder.

Swiss-based chocolate maker Barry Callebaut is also planning to boost grinding capacity this year.

As part of a sweeping reform of the cocoa sector, the government is aiming to locally grind half of its cocoa bean production by 2015. Currently around 35 percent of beans are processed locally.



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Processing & Manufacturing



However a dispute over a 20-year-old tax break given to grinders, which farmers and some exporters are pushing to have repealed, has put those government targets in danger.

Farmers and exporters estimate the reduction on the DUS ("droit unique de sortie") tax - the main tax on cocoa - costs the government between 35 billion and 40 billion CFA francs annually, money they say should be used to support growers.

Grinder companies have said they may consider moving their operations to neighbouring Ghana.

"I think there have been very negative messages directed against the (grinders), but I think that these messages were clearly orchestrated," Poirrier told Reuters.

"The authorities are well aware of the weight and importance of the cocoa industry in Ivory Coast."

As part of a compromise, the government hired auditing firm PricewaterhouseCoopers to carry out a study and issue recommendations on whether or not the subsidy should be maintained. Its findings have not yet been published.

CEMOI also has plans to launch sales of its chocolate products in Ivory Coast by the end of the year.

"According to our studies and projections, chocolate consumption is going to develop in West Africa in the years to come, and Ivory Coast will be our base for that," said Benjamin Bessi, head of CEMOI's Ivory Coast subsidiary. ($1 = 534.8420 CFA francs)

Ivory Coast seeks funds to stop

Ghana: Cocoa Foundation honours COCOBOD BossAllAfrica.comBy Ayuureyisiya Kapini Atafori, 20 July 2012The Chief Executive of Ghana Cocoa Board (COCOBOD), Mr Anthony Fofie, has been honoured by the World Cocoa Foundation (WCF) for his immense contribution towards cocoa sustainability in Ghana.



14

Business & Economy

Labour Issues

Research & Development

Promotion & Consumption

Others

Environmental Issues



Mr Fofie received the award at the 21st WCF Partnership Meeting and Roundtable Sessions held in Washington DC, United States of America (USA), where he gave a presentation on the topic: "The Role of Public Private Partnership in Feed the Future."According to a statement issued by the Public Relations Department of COCOBOD in Accra, Mr Fofie expressed his appreciation for the honour done him and pledged to continue to work harder for the advancement of the world cocoa economy.

He outlined the significant role of public-private partnership in cocoa production and extension, input supply services and internal cocoa marketing. Touching on the contribution of public-private partnership in the internal marketing of cocoa, he said that COCOBOD, in collaboration with the WCF and the Hershey's Company of the USA, has introduced the CocoaLink Project in Ghana. This project, he said, would enable local cocoa farmers to use a mobile telephone platform to send technical information in a two-way direction thereby ensuring that information reaches the farmers when they need it most.

Mr Fofie solicited the support of several partners, including Africa Cocoa Initiative (ACI), to help farmers achieve higher and sustainable production. The ACI, he said, would help build farmers' capacity in food production and adoption of good farm management practices.

He reiterated that COCOBOD's attention was geared towards achieving a sustainable cocoa production through high farm productivity which will enable more land resources to be released for food production. This approach, he said, would ensure the attainment of food security.



15



Documents

COPAL COCOA Info. 501.doc · Web viewSwiss-based chocolate maker Barry Callebaut is also planning to boost grinding capacity this year. As part of a sweeping reform of the cocoa sector,