Marine Link
Friday, September 30, 2016

Cargill to Buy 100,000mt of Certified Ivorian Cocoa

April 17, 2014

U.S. agribusiness trader Cargill aims to purchase 100,000 metric tons of certified Ivorian cocoa this season, up slightly from 95,000 metric tons last season, West Africa managing director Lionel Soulard said on Thursday.

The mid-crop in the world's top cocoa grower started officially on April 1 and farmers have forecast a strong harvest, due to good weather. Certified cocoa are premium beans destined for export markets and grown under strict conditions.

"This year, we have bought 90,000 metric tons of certified cocoa. There are still six months left and we could be at 100,000 metric tons of certified cocoa by the end of the season," Soulard told journalists.

He added that its purchases of certified cocoa would increase further next season and said Cargill, one of the top buyers in the Ivorian market, hoped one day to buy only certified cocoa.

The firm expects to pay a one-off premium of around $20 million to cooperatives for the certified cocoa, a figure that was little changed from the previous season, Soulard added.

The government has set a guaranteed minimum price of 750 CFA francs ($1.58) for the April-to-September mid-crop, the same level as for the main crop.

($1 = 474.1110 CFA Francs)

(Reporting By Loucoumane Coulibaly; Writing by Emma Farge, editing by David Evans)

 



Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News