December 6, 2018 / 10:07 PM / in 2 months

World cocoa supply surplus to grow in 2018/19 –JSG

NEW YORK, Dec 6 (Reuters) - The global cocoa market will see a supply surplus of 71,900 tonnes in the current 2018/19 year, on the back of last year’s smaller surplus, Connecticut-based brokerage JSG Commodities said on Thursday.

* That follows a surplus of 21,620 tonnes last year reported by the International Cocoa Organization.

* World production is expected to be 4.81 million tonnes in the current crop year that began Oct. 1, higher than last year’s 4.64 million tonnes, said Eric Bergman, a vice president at JSG Commodities in Norwalk.

* Total grindings in 2018/19 are expected to be 4.69 million tonnes, Bergman said.

* Top producer Ivory Coast is in the midst of harvesting what is expected to be a record-large crop.

* Output from second-largest producer Ghana appears to be stagnating, but steadily growing production from Ecuador is helping to offset the effects of that stagnation, Bergman said. (Reporting by Ayenat Mersie; Editing by Lisa Shumaker)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below