copal cocoa info. 429.doc · web viewcopal cocoa info a weekly newsletter of cocoa producers'...
TRANSCRIPT
INSIDE THIS ISSE:
ICCO DAILY COCOA PRICES LONDON (LIFFE) FUTURES
MARKET UPDATE NEW YORK (ICE) FUTURES
MARKET UPDATE FROM THE NEWS MEDIA TIT BITS
Course on products from cocoa by-products – 21st February – 4th March 2011, New Tafo-Akyem, Ghana
Sub-committee of the COPAL 50th Anniversary – 15th March 2011 – ICCO Board Room, 1-19 New Oxford Street, London, United Kingdom.
Selection Committee for the post of New Secretary General – 16th March 2011 - ICCO Board Room, 1-19 New Oxford Street, London, United Kingdom.
Market Committee of Experts – 17th March 2011 - ICCO Board Room, 1-19 New Oxford Street, London, United Kingdom.
COPAL COCOACOPAL COCOA InfoInfo A Weekly Newsletter of Cocoa Producers' Alliance
Health and Nutrition
Production and Quality Ghana Cocoa Board Concerned Over Use of
‘Anointing Oil’ on Crop Ulanga farmers to grow cocoa
The Market Cocoa Climbs on Speculation Ivory Coast Crisis to
Crimp Supply Cocoa Prices Paid to Nigerian Farmers Rose to a
Record Yesterday
Processing & Manufacturing
Business & Economy
Labour Issues Ghana steps up fight against child
labour
Environmental Issue
Research & Development
Promotion & Consumption
Others
Do your health a favour, drink Cocoa everyday
‘It’s nature’s miracle food’UP-COMING EVENTSUP-COMING EVENTS IN THISIN THIS
Issue No. 429 28th February – 4th March 2011
In the News (from Newspapers worldwide)
ICCO Daily Cocoa PricesICCO Daily Price
(SDR/tonne)ICCO Daily price
($US/tonne)London futures
(£/tonne)New York futures
($US/tonne)
28th February 2351.33 3698.76 2323.00 3633.33
1st March 2311.02 3635.00 2276.33 3568.00
2nd March 2335.64 3675.28 2299.00 3611.00
3rd March 2367.92 3730.25 2334.33 3674.33
4th March 2307.65 3641.95 2288.67 3575.00
Average 2335.00 3676.00 2304.00 3612.00
COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE, P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
Email: [email protected] Website: www.copal-cpa.org2
International Financial Futures and Options Exchange (LIFFE)London Futures Market – Summary of Trading Activities
(£ per tone)
Monday 28th February 2011 Month Opening Trans Settle Change Daily High Daily Low Volume
Mar 2011 2379 2392 14 2406 2369S 3,580May 2011 2369 2381 13 2385 2359S 5,229Jul 2011 2296 2308 13 2310 2291S 2,082Sep 2011 2244 2280 34 2280 2241S 352Dec 2011 2204 2223 20 2229 2200S 799Mar 2012 2200 2211 12 2215 2195 1,256May 2012 2203 2216 10 2212 2202 149
Jul-12 2215 2222 11 2219S 2209 132Sep-12 2226 11 0
Dec 2012 2227 2237 11 2235 2227 296Average/Totals 2270 13,875
Tuesday 1st March 2011 Month Opening Trans Settle Change High Low Volume
Mar 2011 2395 2337 -55 2401 2330 3,187May 2011 2387 2325 -56 2389 2316 8,220Jul 2011 2310 2262 -46 2315S 2246 1,410Sep 2011 2280 2242 -38 2288 2223S 770Dec 2011 2224 2198 -25 2231S 2163 569Mar 2012 2213 2190 -21 2215 2184S 215May 2012 2218 2196 -20 2220 2216S 70
Jul-12 2226 2202 -20 2226 2226 5Sep-12 2230 2210 -16 2230S 2230S 6
Dec 2012 2239 2217 -20 2241 2239 11Average/Totals 2238 14,463
Wednesday 2nd March 2011 Month Opening Trans Settle Change High Low Volume
Mar 2011 2338 2354 17 2355S 2300 2,147May 2011 2331 2346 21 2348 2291 6,564Jul 2011 2261 2289 27 2292S 2241S 1,995Sep 2011 2252 2262 20 2269S 2216S 1,352Dec 2011 2209 2235 37 2238S 2177S 832Mar 2012 2197 2222 32 2225 2174S 262May 2012 2225 29 0
Jul-12 2228 26 0Sep-12 2233 23 0
Dec 2012 2240 23 0Average/Totals 2263 13,152
Thursday 3rd March 2011 Month Opening Trans Settle Change High Low Volume
Mar 2011 2363 2405 51 2413 2363 7,009
COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE, P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
Email: [email protected] Website: www.copal-cpa.org3
May 2011 2350 2396 50 2406S 2350 5,776Jul 2011 2295 2323 34 2327 2294S 3,027Sep 2011 2262 2284 22 2294S 2262 689Dec 2011 2245 2258 23 2270 2238 720Mar 2012 2238 2248 26 2260 2232S 207May 2012 2241 2252 27 2258 2241S 86
Jul-12 2248 2258 30 2261S 2246S 76Sep-12 2265 32 0
Dec 2012 2274 2273 33 2276 2274 39Average/Totals 1930 17,629
Friday 4th March 2011 Month Opening Trans Settle Change High Low Volume
Mar 2011 2430 2353 -52 2433 2349S 11,177May 2011 2411 2340 -56 2425 2335 12,021
Jul 2011 2335 2276 -47 2348S 2273S 2,599Sep 2011 2300 2250 -34 2306S 2246S 581
Dec 2011 2275 2225 -33 2278S 2222 639Mar 2012 2267 2217 -31 2273S 2248 125
May 2012 2259 2221 -31 2265S 2259 53Jul-12 2250 2225 -33 2250 2249S 21
Sep-12 2232 -33 2265 2264 0Dec 2012 2265 2240 -33 17
Average/Totals 1924 27,233
Average for the week 2228 17270 86,352
COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE, P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
Email: [email protected] Website: www.copal-cpa.org4
New York Board of Trade(New York Futures Market – Summary of Trading Activities)
(US$ per tone)
Monday 28th February 2011 Month Open Price Change High Low Volume
Mar 2011 3730 3757 59 3766 3730 10May 2011 3658 3695 56 3704 3646 7,738Jul 2011 3590 3634 61 3641 3582 1,063Sep 2011 3520 3564 56 3574 3520 411Dec 2011 3469 3505 54 3516 3467 272Mar 2012 3510 3527 48 3538 3498 456May 2012 3505 3520 38 3516 3500 91Jul 2012 0 3525 38 0 0 0Sep 2012 0 3521 39 0 0 0Dec 2012 3522 3552 50 3549 3521 296
Average/Totals 3580 10337
Tuesday 1st March 2011 Month Open Price Change High Low Volume
Mar 2011 3755 3660 -97 3755 3578 29May 2011 3695 3620 -75 3712 3400 14,471Jul 2011 3640 3573 -61 3650 3360 2,191Sep 2011 3573 3518 -46 3579 3379 520Dec 2011 3519 3461 -44 3519 3263 266Mar 2012 3536 3486 -41 3543 3463 153May 2012 3527 3482 -38 3542 3527 19Jul 2012 0 3487 -38 0 0 0Sep 2012 0 3482 -39 0 0 0Dec 2012 3558 3502 -50 3561 3554 15
Average/Totals 3527 17664
Wednesday 2nd March 2011 Month Open Price Change High Low Volume
Mar 2011 0 3701 41 0 0 0May 2011 3623 3664 44 3690 3578 8,592Jul 2011 3582 3609 36 3630 3535 1,674Sep 2011 3520 3555 37 3574 3481 421Dec 2011 3462 3505 44 3525 3429 340Mar 2012 3486 3527 41 3520 3470 383May 2012 0 3526 44 0 0 2Jul 2012 0 3530 43 0 0 0Sep 2012 0 3525 43 0 0 0Dec 2012 0 3539 37 0 0 0
Average/Totals 3568 11412
Thursday 3rd March 2011 Month Open Price Change High Low Volume
Mar 2011 3772 3774 73 3826 3772 6
COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE, P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
Email: [email protected] Website: www.copal-cpa.org5
May 2011 3664 3733 69 3760 3663 8,907Jul 2011 3600 3669 60 3690 3600 2,524Sep 2011 3575 3618 63 3636 3575 620Dec 2011 3525 3572 67 3594 3525 270Mar 2012 3575 3593 66 3613 3570 142May 2012 3575 3590 64 3609 3575 22Jul 2012 0 3593 63 0 0 5Sep 2012 3597 3592 67 3597 3597 1Dec 2012 3630 3602 63 3630 3623 30
Average/Totals 3634 12527
Friday 4th March 2011 Month Open Price Change High Low Volume
Mar 2011 3807 3697 -77 3807 3807 1May 2011 3750 3657 -76 3775 3613 9,249Jul 2011 3686 3591 -78 3710 3560 1,835Sep 2011 3646 3545 -73 3646 3540 251Dec 2011 3592 3500 -72 3592 3475 590Mar 2012 3620 3525 -68 3620 3496 135May 2012 3601 3522 -68 3601 3529 9Jul 2012 3575 3526 -67 3575 3575 1Sep 2012 3573 3520 -72 3573 3573 9Dec 2012 3589 3535 -67 3589 3575 17
Average/Totals 3562 12097
Average for the week 3562 2199 2199
COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE, P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
Email: [email protected] Website: www.copal-cpa.org6
News
Health and Nutrit
Ghana Cocoa Board Concerned Over Use of ‘Anointing Oil’ on CropBusinessWeek By Jason McLure and Moses Mozart Dzawu at [email protected] 04, 2011, 12:40 PM EST(Bloomberg) -- The cocoa-industry regulator in Ghana, the world’s second-biggest grower of the chocolate ingredient, said it is concerned that “unscrupulous persons” are encouraging farmers to spray “anointing oil” on their crop to boost yields.
“These persons who claim to be ‘prophets’ and ‘pastors’ are using local FM stations and information centers in the cocoa-growing areas to misinform our hardworking cocoa farmers,” the Ghana Cocoa Board said in an e-mailed statement today.
Ghana, which neighbors the world’s biggest grower Ivory Coast, encourages farmers to increase the use of pesticide, fungicide and fertilizer to control crop diseases in a bid to raise output to 1 million metric tons of beans by 2012.
The Accra-based board, known as Cocobod, also urged farmers to report people who promote the use of religious ointments on cocoa trees to the country’s security agencies.
Ulanga farmers to grow cocoa The Citizen DailyBy Venance George03 March 2011 Morogoro. District authorities in Ulanga district want to introduce cocoa as a viable commercial crop after an indication that the weather and geographical characteristics could support the growth of the crop.
This is part of the grand plan of district authorities to transform the district agriculture from subsistence to commercial. The district agricultural plan is called one village, one cash crop production strategy’.
This strategy was formulated after comprehensive consultations with various stakeholders.
The district executive director Alfred Luanda said cocoa seedlings will be distributed to all villages across the district for planting in the during the current rain season and this exercise will go together with strengthening of farmers capacity to handle the crop.
Mr Luanda urged the district’s councillors through their ward executive councils to mobilise the constituencies in their respective areas to participate in implementing the proposed strategy. “We actually need to make Ulanga district unique in the agricultural context, through the strategy of ‘one village one cash crop’. This is our way of implementing the gren revolution programme ‘Kilimo Kwanza’,” he said. Cocoa is grown in Southern Tanzania highlands in a small scale. Cocoa beans currently are sold at between Sh2,000 and Sh2,500 per kilo.
Cocoa Climbs on Speculation Ivory Coast Crisis to Crimp Supply
COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE, P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
Email: [email protected] Website: www.copal-cpa.org7
NEWS
Health and Nutrition
Production & Quality
The Market
Bloomberg By Isis Almeida - Feb 28, 2011 Cocoa rose for a second day in New York on speculation supplies will be disrupted as fighting persists in the Ivory Coast, the world’s largest producer.
Escalating violence between supporters of incumbent President Laurent Gbagbo and Alassane Ouattara, the internationally recognized winner of the Nov. 28 elections, threatens to bring the West African country closer to civil war, the DPA news agency cited UN Secretary General Ban Ki-moon as saying Feb. 25. Ouattara called for a month long ban on cocoa exports on Jan. 23 in a bid to cut off Gbagbo’s funds. The ban was extended last week until mid-March.
“It’s reaching a point that the likelihood of a civil war is pretty close,” Gary Mead, an analyst at VM Group said today by phone from London. “I think the price could go higher.”
Cocoa for May delivery climbed $31, or 0.9 percent, to $3,670 a ton at 7:20 a.m. on ICE Futures U.S. in New York. Cocoa for May delivery gained 7 pounds, or 0.3 percent, to 2,375 pounds ($3,855) a metric ton on NYSE Liffe in London.
Hedge-fund managers and other large speculators increased their net-long position in New York cocoa futures in the week ended Feb. 22, according to U.S. Commodity Futures Trading Commission data.
Speculative long positions, or bets prices will rise, outnumbered short positions by 29,287 contracts on ICE Futures U.S., the Washington-based commission said in its Commitments of Traders report on Feb. 25. Net-long positions rose by 2,368 contracts, or 9 percent, from a week earlier.
Arabica coffee for May delivery rose 1.4 percent to $2.715 a pound in New York. Robusta coffee for May delivery rose $41, or 1.8 percent, to $2,380 a ton in London.
Coffee stockpiles in warehouses monitored by ICE dropped 0.1 percent to 1.59 million bags on Feb. 24, according to exchange figures.
Raw sugar for May delivery climbed 0.32 cent, or 1.1 percent, to 29.06 cents a pound on ICE. White, or refined, sugar for May delivery advanced $8.70, or 1.2 percent, to $735.10 a ton on NYSE Liffe.
Cocoa Prices Paid to Nigerian Farmers Rose to a Record YesterdayBusinessWeekBy Vincent NwanmaMarch 01, 2011, 7:41 AM EST (Bloomberg) -- Cocoa prices received by farmers in Nigeria, the world’s fourth-largest producer, rose to a record yesterday, according to the country’s Cocoa Association.
The farmgate price was 535,000 naira ($3,490) a metric ton, up from about 460,000 naira a month ago and an all-time high, according to Neji Abang Neji, secretary general of the association. Nigeria ranks behind Ivory Coast, Ghana and Indonesia in cocoa production, according to the International Cocoa Organization.
Cocoa-bean exports from Nigeria in the first 11 months of last year rose 12 percent to 171,184 tons compared with the same period a year earlier, according to figures from the Federal Produce Inspection Service, the Lagos-based government agency that inspects exports of cocoa beans.
Port arrivals of cocoa beans rose 7 percent from October to Feb. 25, compared to the same period a year earlier, Anant Patil, a business manager at Olam Nigeria Ltd., said from Lagos.
COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE, P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
Email: [email protected] Website: www.copal-cpa.org8
Processing & Manufacturing
Business & Economy
Ghana steps up fight against child labourGhana News AgencyFebruary 28, 2011Akyawkrom (Ash), Feb. 28, GNA - Mr Enoch Teye Mensah, Minister of Employment and Social Welfare, has given high marks to "Focal Persons" in cocoa growing districts for the significant in-roads being made in the fight to rein in child labour. He said their commitment to duty had helped to raise awareness about child labour issues and the implications on the cocoa industry.
This was contained in a speech read for the Minister at the opening of a six-day refresher training programme for the Focal Persons at Akyawkrom in the Ejisu-Juaben Municipality. It is being held by the Ministry under its National Programme for the Elimination of Worst Forms of Child Labour in Cocoa (NPECLC).
The participants would be discussing among other topics, the "Ghana Child Labour Monitoring System", "Hazardous Child Labour Activity Framework" and "Developing Community Bye-laws to Combat Child Labour." They are expected to develop district action plans using the template developed by the NPECLC for increased productivity and growth of the industry.
Mr Mensah said it was heart-warming that the programme to remove worst forms of child labour had now been extended to all the 69 cocoa districts in the country and urged the participants not to relent but work hard to achieve complete elimination of the menace. He reminded them of their duty to team up with the various assemblies to develop interventions to complement both the national and international regulations for combating child labour.
The Minister said every effort should be made to consolidate the gains made.
COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE, P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
Email: [email protected] Website: www.copal-cpa.org9
Labour Issues
Environmental Issue
Research & Development
Promotion & Consumption
Others