Barry Callebaut sees 2013/14 global cocoa market balanced

Thu May 15, 2014 10:31am GMT
 

PARIS May 15 (Reuters) - Barry Callebaut, the world's biggest chocolate maker, expects global cocoa supply will be in line with demand in 2013/14, its chief executive said on Thursday.

The company had previously expected a small deficit, but CEO Juergen Steinemann said a better-than-expected harvest in West Africa had helped boost supply, erasing the deficit.

"I don't consider there will be a deficit this year," Steinemann said. "I believe it will be balanced."

In February the International Cocoa Organization forecast a global cocoa deficit of 115,000 tonnes in 2013/14. (Reporting by Sybille de La Hamaide, Writing by Sarah McFarlane; editing by Jason Neely)

Market Update

  • Africa
  • US
  • Europe
  • Asia
UK £ USD =1.6582
Euro USD =1.3262
Rand USD =0.0933