Financial Daily from THE HINDU group of publications
Thursday, Feb 28, 2002
Financial Daily from THE HINDU group of publications Thursday, Feb 28, 2002 |
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Agri-Biz & Commodities
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Plantations Global cocoa deficit to narrow Our Bureau
MUMBAI, Feb. 27 WORLD cocoa production and crushing are forecast to change marginally during 2001-02, leaving a lower deficit as compared with the previous year and a further drawdown of stocks. According to the first forecast of International Cocoa Organisation (ICCO) released on Tuesday, world production in 2001-02 will be 2.880 million tonnes (mt), up 1.3 per cent or 38,000 tonnes from the revised estimate of 2.842 mt for 2000-01. World grindings are forecast at 3.011 mt, down one per cent or 30,000 tonnes from the previous year, leaving a deficit of 1.6 lakh tonnes (2.3 lt). The deficit reflects net world crop (gross crop adjusted by subtracting one per cent for loss in weight) minus grindings. The end-season cocoa stocks are forecast by ICCO at 9.55 lt, down 14.3 per cent from previous year. The cocoa crop year is October/September.
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