Cocoa production is expected to be at a deficit of 30,000 tons prompting higher prices for both bean and bar, the Fiscal Times reports.» Read More
Mohamed Elsarky, CEO of Godiva, discusses the impact of Ebola on cocoa producing nations and the factors behind cocoa's recent price increase.
Tedd George, head of agriculture research at Ecobank, says the spread of Ebola across West Africa could hit production and threaten a large amount of the world's cocoa production.
LONDON, Oct 15- African dollar bonds were sucked into a global rout of riskier markets on Wednesday, falling to multi-month lows as slumping oil prices and worries about the spread of Ebola fanned broader fears about world growth. Many of Africa's big economies depend on commodity exports, whether it be oil in Nigeria, copper in Zambia or coffee and cocoa in Ivory...
The World Cocoa Foundation is set to announce a fundraising initiative to help combat Ebola in West Africa.
Erkut Ozer, CEO of Global Trading Enterprises, says China's growing appetite for chocolate is pushing the price of cocoa higher.
"No one wants to talk about it because they don't want to start a panic," one expert tells CNBC.
*Nigeria used to be world's number two cocoa producer. AKURE, Nigeria, Sept 4- College graduate Omatayo Adeniyi stands in a humid tropical forest of southwest Nigeria and explains why he chose cocoa farming over a white collar job in the city.
After seeing a rise of nearly 20 percent year to date, cocoa prices may see a taper soon, says Avtar Sandu, Senior Manager, Commodities at Phillip Futures.
Wayne Gordon, Executive Director, Commodities of UBS Wealth Management, explains why consumers won't be put off by higher cocoa prices and discusses the surge in chocolate demand in emerging markets.
Cocoa prices have risen almost 20 percent year to date. CNBC's Adam Bakhtiar visits a factory in Singapore to find out whether higher prices have dampened chocolate demand in Asia.
NEW YORK/ LONDON, Aug 27- Arabica coffee futures on ICE briefly rose above $2 a lb on Wednesday, extending the prior session's rally on concerns about output in top grower Brazil, while cocoa fell after vaulting to the highest since May 2011 in a one-minute rally.
Asia's newly minted chocoholics are tempting sweets-makers, but challenges range from different cultural tastes to the region driving up cocoa prices.
NEW YORK/ LONDON, Aug 18- Cocoa futures in New York and London touched their highest levels in more than three years on Monday on a mix of speculator and trade buying despite an expected surplus, while raw sugar on ICE tumbled to a six-month low due to hefty nearby supplies and technical weakness.
*Sugar traders shrug off Brazil harvest slowdown. NEW YORK/ LONDON, Aug 14- ICE raw sugar futures dropped to a six-month low on Thursday as global oversupply and heavy stocks offset a slowdown in the pace of harvesting in top producer Brazil. "Supplies are good, and physical demand is very slack," said Sterling Smith, a futures specialist with Citigroup in Chicago.
NEW YORK/ LONDON, Aug 13- ICE raw sugar futures fell to a six-month low on Wednesday as investors stayed focused on strong Brazilian yields, while Liffe cocoa rose to a three-year high on support from the sharply lower British pound.
*Cocoa remains near Monday's three-year high. Cocoa on ICE Futures U.S. and Liffe were steady as the markets consolidated after touching a three-year high in the prior session. The rally was a knee-jerk reaction to a fire at a Rumo sugar warehouse operated by producer Cosan SA at top grower Brazil's Santos port.
NEW YORK/ CHICAGO, Aug 5- Agribusiness company Archer Daniels Midland Co expects to sell its global chocolate business by the end of the third quarter, its president said on Tuesday, after opting to hold onto its larger cocoa press business.
*Ghana facing serious currency, inflation problems. ENCHI, Ghana, July 28- Three years ago, when James joined Ghana's anti-smuggling task force, his job was to intercept illicit cocoa shipments from neighbouring Ivory Coast to preserve the superior quality of his country's beans.
LAGOS, July 18- Exporters have resumed loading of cocoa shipments in Nigeria's second-largest producing area, Cross Rivers state, after the state government suspended on Friday a levy on bean exports, a trade body said.
July 15- Hershey Co, the No. 1 candy producer in the United States, on Tuesday hiked its chocolate prices for the first time in three years, a sign that a year-long soaring cocoa market is eating into confectioners' profits.