May 8th, 2009, 11:04 am
You mean something like Chocolate Economics?Maybe Godiva would become a sponsor! ***Some good news on Cocoa:LONDON (Reuters) - Fortis on Wednesday revised down its estimate for a projected global cocoa deficit in 2009/10 to 64,000 tonnes from a previous forecast for a deficit of 101,000 tonnes.The investment bank also revised its outlook for 2008/09 to a balanced market from a previous forecast of a deficit of 39,000 tonnes issued a month ago."The short-term prospects are for continued suppressed cocoa demand for the rest of the year, offsetting the slightly smaller main crops that have emerged from West Africa during the 2008/09 season," Fortis said in a monthly report.Fortis forecast total grindings would fall 6.2 percent in 2008/09 to 3.48 million tonnes, down from 3.71 million in 2007/08 but should rebound in 2009/10 to 3.66 million."In the longer term it remains the case that - once the recession is well and truly over - the inevitable resurgence in demand could place considerable pressure on the capacity of cocoa producers to raise supply," Fortis said.Global net production was seen rising in 2009/10 to 3.60 million tonnes, up from 3.48 million in 2008/09."We expect quite a productive 2009/10 West African main crop, if the recent beneficial weather conditions persist," Fortis said.Fortis cuts 2009/10 global cocoa deficit forecast - Reuters May 6
Last edited by
Trickster on May 7th, 2009, 10:00 pm, edited 1 time in total.