Deborah Thorne Successful Xocai Executive is Learning About |MLM | Network Marketing | MXI Corp Xocai | Home Based Business | and the Latest News on Global Cocoa Supply and Demand Through 2012
The latest facts and figures on the supply of dark chocolate have come out ? you?re in the loop!
http://online.wsj.com/article/SB10001424053111904836104576556331950926712.html
LONDON?Global cocoa supply will remain more than adequate until the end of 2011 as chocolate demand in Europe and the U.S. is unlikely to grow, an executive of global chocolate and confectionery producer Ferrero Spa said.? ?Regarding Europe and the U.S., we are not looking at regions that are growing in any dramatic way,? Ferrero?s U.K. Managing Director Christian Walter said. ?People feel they have less money to spend right now and so confectionery goods take a hit.?? Mr. Christian Walter?s view was shared by Edward George, soft commodities analyst at pan-African banking group Ecobank Transnational Inc., who said the supply of cocoa is forecast to outpace demand in the 2011-12 marketing year as poor prospects for global economic growth are seen weakening chocolate consumption.? Mr. Edward George said the cocoa surplus for 2011-12 could hit 100,000 metric tons (110,231 short tons) and would come on top of an anticipated 200,000 tons from the current season.? ?With extremely weak consumer demand in the U.S. and the EU, plus a slowdown in China (albeit from a very high rate of growth), demand for chocolate will be weak, cutting demand for beans,? Mr. Edward George said.
Bloomberg News ? Demand for chocolate is expected to be weak through the end of the year.? Cocoa for December delivery on the Intercontinental Exchange was down 0.4% at $2,975 a ton in midmorning trade Wednesday.? Mr. Edward Walter said, ??although cocoa supply and price aren?t a concern for Ferrero, sugar remains an ?uncertain raw material.?? Frost in Brazil, the world?s top sugarcane producer, has analysts predicting a shortage of the sweetener. ?Global consultant Kingsman SA said Tuesday, ?? that yields in Brazil?s key sugarcane region ?continue to disappoint? and the shortfall ?will keep the world raw [sugar] market tight for the next six months.?? Ferrero, the maker of Ferrero Rocher chocolate and Tic Tac mints, said it uses about 120,000 tons of cocoa beans and 520,000 tons of sugar a year.
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