Liffe News

Good Cocoa Harvest Expected on Ivory Coast

Cocoa farmers said on Monday weeks of abundant rain in most of Ivory Coast's principal growing regions will likely ensure good bean quality and robust harvesting into July as long as there is no flooding or outbreaks of disease. The marketing season for the April-to-September mid-crop officially opened on April 1 and harvesting is picking up rapidly. Analysts now predict a better than expected crop in West Africa after forecasts of a supply deficit boosted prices 20 percent last year, and cocoa futures were lower on Monday on the region's improved mid-crop prospects. July cocoa on ICE fell $11 or 0.4 percent to $2,853 a tonne after earlier equalling a three-month low of $2,849 set on Thursday. July cocoa on Liffe fell 12 pounds or 0.7 percent to 1,779 pounds a tonne.