Monday, September 24, 2018

Brazil wants more cocoa from Ivory Coast after lot of Cargill

The Brazil search more imports of the world's largest cocoa producer, Ivory Coast, after sending the first batch from 2012 by Cargill. The Brazil probably will import 10,000 tons of seeds Ivorians more by the end of 2018 after receiving 15,000 tons by this time of year, according to the National Association of Cocoa processors Industries (AIPC). The American agribusiness company Cargill received the first shipment in July, said Muralitharan Mathur, Managing Director of cocoa in Brazil unit, without revealing the volume. The country halted imports of cocoa from Ivory Coast after finding bugs in shipments in 2012, that raised concerns. The reopening of the market will be a relief for the processors of Latin America's largest economy, which have resorted to seed more guys from Ghana, the second largest producer in the world, to supply the production deficit. "In recent years, the production of cocoa beans in Brazil has been insufficient to meet the growing demand of local cocoa processing industry," said Mathur. The volume imported "depends on the size of the brazilian crop of cocoa," he said. The cocoa processors from Brazil are renegotiating contracts to ensure the seeds Ivory Coast instead of more expensive raw material of Ghana, said Eduardo Bastos, AIPC Executive Director, by phone on Wednesday. The brazilian production this year is estimated at 180,000 tons, about 50,000 tonnes below the demand for milling, said, adding that the total import will probably be of 60,000 tons to ensure some stock. The projection will depend on import of the harvest of the Ivory Coast, which appears to be delayed, said Bastos. The cocoa trees of the West African country still have few pods, but many flowers, said, after a recent field trip. There is also concern about the excessive rain and with diseases, said. Imports of cocoa from Ivory Coast instead of Ghana generates savings of $ $100 per tonne for the Brazilian processors, according to the AIPC. The Group hopes to a better domestic harvest next year, to 200,000 tons, but still need to import to meet demand, said Bastos. Cargill said it intends to buy grains from local farmers when possible. Cocoa futures traded in London rose 13% this year after two straight annual declines due to speculation that the lowest prices paid to farmers in West Africa will reduce the incentive to produce amid a demand still strong.
Mercado do Cacau - 21/09/2018 News Item translated automatically
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