Cocoa was first introduced to Tanzania more than 100 years ago, though its production is still relatively small. However, that position is now changing with the support of some governmental agencies and corporate bodies.
Cocoa and corn futures came under pressure last week as buyer support was hit by higher crop outlooks and jitters over the global economy. Markets for French butter and Indian guar gum also dipped, but prices for Spanish peaches and German pork edged higher.
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A larger than expected Ivorian cocoa crop combined with growing global economic gloom to push New York futures down to five-month lows this week, almost 15% below their June highs.
Barry Callebaut has started manufacturing at its second chocolate plant in Rancaekek, a sub-district of Bandung, Indonesia.
There will be a limited service on IEG Vu on Monday, August 26 due to a national holiday in the UK.
Cocoa futures in both New York and London settled higher yesterday (August 21) after dipping back to lows on Tuesday’s (August 20) close.
The USDA has highlighted the need for food and drink exporters to be aware of the more environmentally-sensitive packaging requirements in Germany.
Brazilian state Pará’s cocoa output is expected to reach record levels, according to the Brazilian consultancy TH Consultoria.
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