INSIDE THIS ISSE: ICCO DAILY COCOA PRICES LONDON (LIFFE) FUTURES MARKET UPDATE NEW YORK (ICE) FUTURES MARKET UPDATE FROM THE NEWS MEDIA TIT BITS Course on products from cocoa by- products – 21 st February – 4 th March 2011, New Tafo-Akyem, Ghana Sub-committee of the COPAL 50 th Anniversary – 15 th March 2011 – ICCO Board Room, 1-19 New Oxford Street, London, United Kingdom. Selection Committee for the post of New Secretary General – 16 th March 2011 - ICCO Board Room, 1-19 New Oxford Street, COPAL COCOA COPAL COCOA Info Info A Weekly Newsletter of Cocoa Producers' Alliance Do your health a favour, drink Cocoa everyday UP-COMING EVENTS IN THIS Issue No. 429 28 th February – 4 th March 2011
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INSIDE THIS ISSE:
ICCO DAILY COCOA PRICES LONDON (LIFFE) FUTURES
MARKET UPDATE NEW YORK (ICE) FUTURES
MARKET UPDATE FROM THE NEWS MEDIA TIT BITS
Course on products from cocoa by-products – 21st February – 4th March 2011, New Tafo-Akyem, Ghana
Sub-committee of the COPAL 50th Anniversary – 15th March 2011 – ICCO Board Room, 1-19 New Oxford Street, London, United Kingdom.
Selection Committee for the post of New Secretary General – 16th March 2011 - ICCO Board Room, 1-19 New Oxford Street, London, United Kingdom.
Market Committee of Experts – 17th March 2011 - ICCO Board Room, 1-19 New Oxford Street, London, United Kingdom.
COPAL COCOACOPAL COCOA InfoInfo A Weekly Newsletter of Cocoa Producers' Alliance
Health and Nutrition
Production and Quality Ghana Cocoa Board Concerned Over Use of
‘Anointing Oil’ on Crop Ulanga farmers to grow cocoa
The Market Cocoa Climbs on Speculation Ivory Coast Crisis to
Crimp Supply Cocoa Prices Paid to Nigerian Farmers Rose to a
Record Yesterday
Processing & Manufacturing
Business & Economy
Labour Issues Ghana steps up fight against child
labour
Environmental Issue
Research & Development
Promotion & Consumption
Others
Do your health a favour, drink Cocoa everyday
‘It’s nature’s miracle food’UP-COMING EVENTSUP-COMING EVENTS IN THISIN THIS
Issue No. 429 28th February – 4th March 2011
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)
28th February 2351.33 3698.76 2323.00 3633.33
1st March 2311.02 3635.00 2276.33 3568.00
2nd March 2335.64 3675.28 2299.00 3611.00
3rd March 2367.92 3730.25 2334.33 3674.33
4th March 2307.65 3641.95 2288.67 3575.00
Average 2335.00 3676.00 2304.00 3612.00
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
Ghana Cocoa Board Concerned Over Use of ‘Anointing Oil’ on CropBusinessWeek By Jason McLure and Moses Mozart Dzawu at [email protected] 04, 2011, 12:40 PM EST(Bloomberg) -- The cocoa-industry regulator in Ghana, the world’s second-biggest grower of the chocolate ingredient, said it is concerned that “unscrupulous persons” are encouraging farmers to spray “anointing oil” on their crop to boost yields.
“These persons who claim to be ‘prophets’ and ‘pastors’ are using local FM stations and information centers in the cocoa-growing areas to misinform our hardworking cocoa farmers,” the Ghana Cocoa Board said in an e-mailed statement today.
Ghana, which neighbors the world’s biggest grower Ivory Coast, encourages farmers to increase the use of pesticide, fungicide and fertilizer to control crop diseases in a bid to raise output to 1 million metric tons of beans by 2012.
The Accra-based board, known as Cocobod, also urged farmers to report people who promote the use of religious ointments on cocoa trees to the country’s security agencies.
Ulanga farmers to grow cocoa The Citizen DailyBy Venance George03 March 2011 Morogoro. District authorities in Ulanga district want to introduce cocoa as a viable commercial crop after an indication that the weather and geographical characteristics could support the growth of the crop.
This is part of the grand plan of district authorities to transform the district agriculture from subsistence to commercial. The district agricultural plan is called one village, one cash crop production strategy’.
This strategy was formulated after comprehensive consultations with various stakeholders.
The district executive director Alfred Luanda said cocoa seedlings will be distributed to all villages across the district for planting in the during the current rain season and this exercise will go together with strengthening of farmers capacity to handle the crop.
Mr Luanda urged the district’s councillors through their ward executive councils to mobilise the constituencies in their respective areas to participate in implementing the proposed strategy. “We actually need to make Ulanga district unique in the agricultural context, through the strategy of ‘one village one cash crop’. This is our way of implementing the gren revolution programme ‘Kilimo Kwanza’,” he said. Cocoa is grown in Southern Tanzania highlands in a small scale. Cocoa beans currently are sold at between Sh2,000 and Sh2,500 per kilo.
Cocoa Climbs on Speculation Ivory Coast Crisis to Crimp Supply
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
Bloomberg By Isis Almeida - Feb 28, 2011 Cocoa rose for a second day in New York on speculation supplies will be disrupted as fighting persists in the Ivory Coast, the world’s largest producer.
Escalating violence between supporters of incumbent President Laurent Gbagbo and Alassane Ouattara, the internationally recognized winner of the Nov. 28 elections, threatens to bring the West African country closer to civil war, the DPA news agency cited UN Secretary General Ban Ki-moon as saying Feb. 25. Ouattara called for a month long ban on cocoa exports on Jan. 23 in a bid to cut off Gbagbo’s funds. The ban was extended last week until mid-March.
“It’s reaching a point that the likelihood of a civil war is pretty close,” Gary Mead, an analyst at VM Group said today by phone from London. “I think the price could go higher.”
Cocoa for May delivery climbed $31, or 0.9 percent, to $3,670 a ton at 7:20 a.m. on ICE Futures U.S. in New York. Cocoa for May delivery gained 7 pounds, or 0.3 percent, to 2,375 pounds ($3,855) a metric ton on NYSE Liffe in London.
Hedge-fund managers and other large speculators increased their net-long position in New York cocoa futures in the week ended Feb. 22, according to U.S. Commodity Futures Trading Commission data.
Speculative long positions, or bets prices will rise, outnumbered short positions by 29,287 contracts on ICE Futures U.S., the Washington-based commission said in its Commitments of Traders report on Feb. 25. Net-long positions rose by 2,368 contracts, or 9 percent, from a week earlier.
Arabica coffee for May delivery rose 1.4 percent to $2.715 a pound in New York. Robusta coffee for May delivery rose $41, or 1.8 percent, to $2,380 a ton in London.
Coffee stockpiles in warehouses monitored by ICE dropped 0.1 percent to 1.59 million bags on Feb. 24, according to exchange figures.
Raw sugar for May delivery climbed 0.32 cent, or 1.1 percent, to 29.06 cents a pound on ICE. White, or refined, sugar for May delivery advanced $8.70, or 1.2 percent, to $735.10 a ton on NYSE Liffe.
Cocoa Prices Paid to Nigerian Farmers Rose to a Record YesterdayBusinessWeekBy Vincent NwanmaMarch 01, 2011, 7:41 AM EST (Bloomberg) -- Cocoa prices received by farmers in Nigeria, the world’s fourth-largest producer, rose to a record yesterday, according to the country’s Cocoa Association.
The farmgate price was 535,000 naira ($3,490) a metric ton, up from about 460,000 naira a month ago and an all-time high, according to Neji Abang Neji, secretary general of the association. Nigeria ranks behind Ivory Coast, Ghana and Indonesia in cocoa production, according to the International Cocoa Organization.
Cocoa-bean exports from Nigeria in the first 11 months of last year rose 12 percent to 171,184 tons compared with the same period a year earlier, according to figures from the Federal Produce Inspection Service, the Lagos-based government agency that inspects exports of cocoa beans.
Port arrivals of cocoa beans rose 7 percent from October to Feb. 25, compared to the same period a year earlier, Anant Patil, a business manager at Olam Nigeria Ltd., said from Lagos.
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
Ghana steps up fight against child labourGhana News AgencyFebruary 28, 2011Akyawkrom (Ash), Feb. 28, GNA - Mr Enoch Teye Mensah, Minister of Employment and Social Welfare, has given high marks to "Focal Persons" in cocoa growing districts for the significant in-roads being made in the fight to rein in child labour. He said their commitment to duty had helped to raise awareness about child labour issues and the implications on the cocoa industry.
This was contained in a speech read for the Minister at the opening of a six-day refresher training programme for the Focal Persons at Akyawkrom in the Ejisu-Juaben Municipality. It is being held by the Ministry under its National Programme for the Elimination of Worst Forms of Child Labour in Cocoa (NPECLC).
The participants would be discussing among other topics, the "Ghana Child Labour Monitoring System", "Hazardous Child Labour Activity Framework" and "Developing Community Bye-laws to Combat Child Labour." They are expected to develop district action plans using the template developed by the NPECLC for increased productivity and growth of the industry.
Mr Mensah said it was heart-warming that the programme to remove worst forms of child labour had now been extended to all the 69 cocoa districts in the country and urged the participants not to relent but work hard to achieve complete elimination of the menace. He reminded them of their duty to team up with the various assemblies to develop interventions to complement both the national and international regulations for combating child labour.
The Minister said every effort should be made to consolidate the gains made.
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