copal cocoa info - alliance of cocoa producing …. 482.doc · web view... 2306 924 mar 2013 2310...

INSIDE THIS ISSE: ICCO DAILY COCOA PRICES LONDON (LIFFE) FUTURES

MARKET UPDATE NEW YORK (ICE) FUTURES

MARKET UPDATE FROM THE NEWS MEDIA

o Meeting of the International Organizing Committee for the 17th International Cocoa Research Conference, (ICRC) Yaounde, Cameroon, 24th April to 3rd May 2012.

COPAL COCOACOPAL COCOA InfoInfo

A Weekly Newsletter of Cocoa Producers' Alliance

Health and Nutrition Cocoa may help diabetes, heart failure Cocoa ‘may help strengthen skeletal muscle

function’ Chocolate could improve your heart's health A New Product Called Diabetes Support

Supplements by ProactiveLife contains pure cocoa (chocolate), which can lower blood sugar levels for people with type 2 diabetes and pre-diabetes.

CocoaWell offers benefits of Cocoa without the negatives of Chocolate

How compounds found in cocoa, grapes and apples may benefit human health

Production and Quality Agriterra has bold strategy to grow its agricultural

business

Processing & Manufacturing What Makes Dutch Process Cocoa Different? SAF CACAO delays cocoa grind capacity

expansion

Business & Economy Europe cash cocoa-Focus shifts to West African

mid crop Ivory Coast gets customs revenue boost as Cocoa

Shipments Resume

Labour Issues

Environmental Issue

Research & Development

Do your health a favour, drink Cocoa everyday

‘It’s nature’s miracle food’UP-COMING EVENTSUP-COMING EVENTS IN THISIN THIS

Issue No. 482 5th – 9th March 2012

The Market Indonesia's February cocoa bean exports fall 20

percent Sao Tome sells US$5.1 million in cocoa in 2011 Ghana pledges firm cocoa price for its farmers ICCO Forecasts Global Cocoa deficit in 2011/12

Promotion & Consumption

Others Cocoa farmers call for re-introduction of Akuafo

ChequeIn 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)

5th March 1507.64 2325.22 1479.33 2306.00

6th March 1506.12 2319.29 1488.33 2301.67

7th March 1509.57 2324.88 1488.00 2310.33

8th March 1568.05 2420.73 1549.33 2393.67

9th March 1581.01 2438.22 1567.67 2422.33

Average 1534.00 2366.00 1515.00 2347.00

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

mailto:[email protected]

International Financial Futures and Options Exchange (LIFFE)London Futures Market – Summary of Trading Activities

(£ per tone)

Monday 5th February 2012

Month Opening Trans Settle ChangeDaily High

Daily Low Volume

Mar 2012 1459 1440 -30 1471 1438 7,160May 2012 1484 1464 -31 1497S 1462 6,126Jul 2012 1504 1481 -28 1512S 1478S 2,335Sep 2012 1510 1493 -22 1518S 1490S 4,681Dec 2012 1510 1493 -20 1517S 1491S 1,233Mar 2013 1501 1491 -19 1512 1489S 1,025May 2013 1511 1500 -20 1521S 1500S 170Jul 2013 1510 1509 -19 1510S 1510S 4Sep 2013 1535 1516 -15 1535S 1535S 0Dec 2013 1524 -12 3

Average/Totals 1491 22,737

Tuesday 6th February 2012

Month Opening Trans Settle ChangeDaily High

Daily Low Volume

Mar 2012 1435 1450 10 1473S 1432S 5,584May 2012 1455 1476 12 1497S 1454S 6,702Jul 2012 1473 1490 9 1508S 1471 1,955Sep 2012 1491 1499 6 1516S 1483S 1,321Dec 2012 1488 1496 3 1516S 1488S 1,195Mar 2013 1482 1497 6 1513S 1482S 872May 2013 1510 1507 7 1517S 1510S 3Jul 2013 1507 1515 6 1521S 1507S 5Sep 2013 1529 1518 2 1529S 1529S 2Dec 2013 1525 1 0


Wednesday 7th February 2012 Month Opening Trans Settle Change High Low Volume

Mar 2012 1461 1452 2 1462S 1448S 3,144May 2012 1485 1475 -1 1488 1470 3,931Jul 2012 1495 1490 0 1501S 1483S 788Sep 2012 1508 1499 0 1509S 1493S 329Dec 2012 1507 1497 1 1507S 1491S 256Mar 2013 1506 1495 -2 1506S 1492S 452May 2013 1515 1504 -3 1515S 1508S 56Jul 2013 1511 1512 -3 1511 1511 1Sep 2013 1530 1515 -3 1531S 1529S 22Dec 2013 1535 1525 0 1540S 1532S 17




http://www.nybot.com/reports/dmrs/etsDMRs/dmrFutures.asp?dmrMonth=04&dmrDay=11&dmrYear=2007&commodityID=1&commodityType=future






Thursday 8th March 2012 Month Opening Trans Settle Change High Low Volume

Mar 2012 1457 1504 52 1515S 1444 6,222May 2012 1477 1540 65 1545 1469S 10,181Jul 2012 1485 1552 62 1557S 1484S 3,186Sep 2012 1497 1556 57 1568S 1492 1,555Dec 2012 1495 1555 58 1564S 1491S 2,103Mar 2013 1493 1554 59 1562S 1492S 4,925May 2013 1505 1563 59 1526 1505S 7Jul 2013 1571 59 0Sep 2013 1574 59 0Dec 2013 1584 59 0


Friday 9th March 2012 Month Opening Trans Settle Change High Low Volume

Mar 2012 1498 1520 16 1528S 1492S 6,640May 2012 1529 1556 16 1563 1526 8,838Jul 2012 1538 1570 18 1577S 1534S 1,413Sep 2012 1542 1577 21 1583S 1542S 783Dec 2012 1540 1578 23 1583S 1540S 981Mar 2013 1541 1577 23 1581 1540 1,767May 2013 1563 1584 21 1581S 1563S 84Jul 2013 1560 1591 20 1592S 1560S 72Sep 2013 1595 1594 20 1595 1595 50Dec 2013 1606 22 0


Average for the week 1575 3751 3751











New York Board of Trade(New York Futures Market – Summary of Trading Activities)

(US$ per tone)

Monday 5th February 2012 Month Open Price Change High Low Volume

Mar 2012 2334 2314 -44 2334 2334 2May 2012 2328 2283 -51 2341 2273 10,347Jul 2012 2343 2302 -50 2355 2294 2,120Sep 2012 2355 2317 -47 2365 2316 1,471Dec 2012 2356 2324 -44 2370 2317 1,380Mar 2013 2359 2329 -43 2376 2322 765May 2013 2342 2340 -43 2342 2342 6Jul 2013 2353 2350 -42 2355 2353 16Sep 2013 2368 2362 -42 2368 2368 5Dec 2013 0 2372 -42 0 0 0

Average/Totals 2329 16112

Tuesday 6th February 2012 Month Open Price Change High Low Volume

Mar 2012 2300 2316 2 2300 2283 102May 2012 2290 2283 0 2318 2263 8,793Jul 2012 2305 2302 0 2333 2283 2,281Sep 2012 2302 2317 0 2343 2299 1,509Dec 2012 2306 2325 1 2352 2306 924Mar 2013 2310 2332 3 2361 2310 576May 2013 2352 2342 2 2352 2352 85Jul 2013 2359 2351 1 2359 2350 121Sep 2013 2360 2362 0 2360 2360 47Dec 2013 0 2370 -2 0 0 0


Wednesday 7th February 2012 Month Open Price Change High Low Volume

Mar 2012 0 2310 -6 0 0 0May 2012 2292 2277 -6 2317 2260 7,301Jul 2012 2319 2297 -5 2331 2280 2,578Sep 2012 2335 2312 -5 2344 2295 1,166Dec 2012 2346 2321 -4 2359 2306 238Mar 2013 2341 2327 -5 2359 2311 351May 2013 0 2336 -6 0 0 0Jul 2013 0 2344 -7 0 0 0Sep 2013 2351 2357 -5 2356 2340 34Dec 2013 0 2367 -3 0 0 0











Thursday 8th March 2012 Month Open Price Change High Low Volume

Mar 2012 2415 2439 129 2444 2415 22May 2012 2278 2395 118 2404 2278 17,217Jul 2012 2303 2413 116 2418 2296 5,294Sep 2012 2315 2426 114 2428 2311 2,528Dec 2012 2324 2430 109 2434 2319 1,441Mar 2013 2329 2434 107 2439 2324 1,272May 2013 2425 2445 109 2433 2418 10Jul 2013 2435 2456 112 2448 2428 48Sep 2013 0 2468 111 0 0 0Dec 2013 0 2478 111 0 0 0


Friday 9th March 2012 Month Open Price Change High Low Volume

Mar 2012 2422 2440 1 2430 2422 10May 2012 2375 2410 15 2425 2361 11,411Jul 2012 2392 2427 14 2440 2381 2,729Sep 2012 2404 2441 15 2449 2397 2,127Dec 2012 2409 2446 16 2452 2401 1,095Mar 2013 2419 2450 16 2455 2407 1,059May 2013 2429 2458 13 2468 2429 67Jul 2013 2468 2465 9 2479 2462 70Sep 2013 2486 2476 8 2486 2477 23Dec 2013 0 2487 9 0 0 0


Average for the week 2450 3380 3380











News

Cocoa may help diabetes, heart failureUPI.com |March. 2, 2012 SAN DIEGO, March 2 (UPI) -- Patients with advanced heart failure and type 2 diabetes showed improvement after three months of consuming epicatechin-enriched cocoa, U.S. researchers said. Dr. Francisco J. Villarreal of University of California, San Diego, said epicatechin is a flavonoid found in dark chocolate.

The researchers examined five profoundly ill patients with major damage to skeletal muscle mitochondria -- structures responsible for most of the energy produced in cells. These "fuel cells" are dysfunctional as a result of both type 2 diabetes and heart failure, leading to abnormalities in skeletal muscle, Villarreal said.

Patients with heart failure and diabetes experience abnormalities in both the heart and skeletal muscle that can result in impaired functional capacity. They often complain of shortness of breath, lack of energy and have difficulty walking even short distances.

Trial participants consumed dark chocolate bars and a beverage with a total epicatechin content of approximately 100 milligram per day for three months. Biopsies of skeletal muscle were conducted before and after treatment.

After three months, the researchers looked at changes in mitochondria volume and the abundance of cristae, are internal compartments of mitochondria necessary for efficient function of the mitochondria.

"The cristae had been severely damaged and decreased in quantity in these patients," Villarreal said in a statement. "After three months, we saw recovery -- cristae numbers back toward normal levels, and increases in several molecular indicators involved in new mitochondria production." Read more: http://www.upi.com/Health_News/2012/03/02/Cocoa-may-help-diabetes-heart-failure/UPI-

Cocoa ‘may help strengthen skeletal muscle function’Zee NewsMarch 03, 2012

Washington: Cocoa may enhance the skeletal muscle function in patients with advanced heart failure and type 2 diabetes, a new study has found.

A small clinical trial led by researchers at UC San Diego School of Medicine and VA San Diego Healthcare System (VASDHS) found that these patients showed improved mitochondrial structure after three months of treatment with epicatechin-enriched cocoa.

Epicatechin is a flavonoid found in dark chocolate.

The results of this initial study has led to the implementation of larger, placebo-controlled clinical trial at UC San Diego School of Medicine and VASDHS to assess if patients with heart failure and diabetes show improvement in their exercise capacity when treated with epicatechin-rich cocoa.

The study looked at five profoundly ill patients with major damage to skeletal muscle mitochondria. Mitochondria are structures responsible for most of the energy produced in cells.



NEWS

Health and Nutrition


http://www.upi.com/Health_News/2012/03/02/Cocoa-may-help-diabetes-heart-failure/UPI-

These “fuel cells” are dysfunctional as a result of both type 2 diabetes and heart failure, leading to abnormalities in skeletal muscle. In patients with heart failure and diabetes abnormalities in both the heart and skeletal muscle result in impaired functional capacity.

These patients often complain of shortness of breath, lack of energy and have difficulty walking even short distances.

The trial participants consumed dark chocolate bars and a beverage with a total epicatechin content of approximately 100 mg per day for three months. Biopsies of skeletal muscle were conducted before and after treatment.

After the three-month treatment, the researchers looked at changes in mitochondria volume and the abundance of cristae, which are internal compartments of mitochondria that are necessary for efficient function of the mitochondria, and measurable by electron microscopy. “The cristae had been severely damaged and decreased in quantity in these patients,” Francisco J. Villarreal, on of the senior investigators, said. “After three months, we saw recovery – cristae numbers back toward normal levels, and increases in several molecular indicators involved in new mitochondria production,” he said.

The results, which mimicked earlier studies showing improvement in skeletal and heart muscle function in animal models after treatment with epicatechin, were promising enough to prompt the larger study.

Chocolate could improve your heart's healthMoneyweb.co.za05 March 2012

Study shows lowered blood pressure and improved blood vessel function.

That heart-shaped box of chocolate you got for Valentine's just might have some benefits for your real heart, a new study hints.

The study, which combined the results of 42 small clinical trials, found that people fed chocolate or cocoa for a few weeks to months had small dips in their blood pressure and improved blood vessel function.

On average, chocolate eaters shaved a couple points from their blood pressure and showed a small improvement in "flow-mediated dilation" -- a measure of how well the blood vessels respond to increased blood flow.

They also had a dip in their levels of insulin, a hormone that regulates blood sugar. High insulin levels are linked to an increased risk of type 2 diabetes.

The findings, reported in the American Journal of Clinical Nutrition, are far from the first to connect chocolate to heart health.

A number of widely reported studies have found that chocolate lovers seem to have lower rates of certain heart risks, like high blood pressure.

But those types of studies, known as observational studies, cannot prove cause-and-effect. People who indulge in chocolate may have other factors in their lives that explain the better heart health.

In contrast, the new study focused on clinical trials -- where researchers randomly assigned people to eat chocolate or not, then watched for changes in chocolate eaters' blood pressure, cholesterol and other heart risk factors.

The fact that there were some improvements suggests that chocolate may have some actual benefits, according to the researchers, led by Lee Hooper of Norwich Medical School in the UK.




But Hooper cautioned that the studies in the analysis were small and had their flaws. And possibly most important, none have been large or long enough to show whether there's any effect on a person's risk of heart disease or stroke.

"My take-away message would be that if people like dark chocolate, then eating a little in place of other 'treat' foods is fine, and may be beneficial," Hooper told Reuters Health in an email.

"However," she added, "the evidence is not yet good enough to suggest that we should all be doing this."

An expert not involved in the study agreed.

"From a practical perspective it is premature to advise individuals to consume chocolate or cocoa to decrease their risk of cardiovascular disease," said Alice H. Lichtenstein, director of the cardiovascular nutrition lab at Tufts University in Boston. That's due to a number of reasons, not the least of which is calorie control, according to Lichtenstein.

Another is that it's not clear how chocolate would have heart benefits. Compounds called flavonoids are the "presumed" player, Lichtenstein said in an email, but they have not been adequately tested to see whether they are, in fact, effective ways to protect your heart.

And even if they are, Lichtenstein said, "little information is available to the consumer for the level of flavonoids in a specific chocolate product."

Plus, Hooper pointed out, there's a range of plant foods that contain various flavonoids -- including many fruits (like berries, citrus and apples) and vegetables (like kale, spinach and broccoli), nuts, soy, tea and wine.

For the current study, Hooper's team pooled data from 42 small clinical trials involving about 1,300 people in all.

That approach is called a meta-analysis, and it allows researchers to draw conclusions based on bigger numbers.

But it also has shortcomings, Hooper's team acknowledges. Each of the trials was different -- including different types of people (healthy in some cases, having chronic health problems like diabetes or heart disease in others), and different ways of testing chocolate's effects.

Some studies used cocoa drinks, some solid chocolate, and some cocoa supplements. They also varied in how long people were "treated" -- but most trials lasted less than six weeks.

Larger, longer-term trials -- including ones not funded by the cocoa industry -- are needed, Hooper and her colleagues write.

Maybe the biggest question is whether any benefits would be worth the downside of chocolate. Based on these small studies, Hooper's team writes, it could take several hundred calories' worth of chocolate to see effects on insulin and blood vessel function.

And that could mean trouble for your waistline, the researchers point out.

Lichtenstein agreed. "Until we get additional data, it is premature to say that adding hot chocolate fudge sauce to a bowl of ice cream is going to decrease the risk of cardiovascular disease," she said.

"What we do know," she added, "is that adding the chocolate sauce without decreasing the amount of ice cream in the bowl is going to lead to weight gain."

For now, Lichtenstein said, if you enjoy a little chocolate in your life, you can probably keep doing so. But don't add it in the hopes of helping your heart.




A New Product Called Diabetes Support Supplements by ProactiveLife contains pure cocoa (chocolate), which can lower blood sugar levels for people with type 2 diabetes and pre-diabetes.PR Web (press release)By Rancho Palos Verdes, CA (PRWEB) March 06, 2012

Pure Cocoa Bean

“According to the Journal of American College of Cardiology June 3rd addition type 2 diabetics who consumed pure cocoa witnessed a 30% increase in arterial blood flow.Quote “

A new product called Diabetes Support Supplements from Proactivelife incorporates pure cocoa powder to help people with Type 2 Diabetes. The heart health benefits of dark chocolate (cocoa powder) have been coming to light in the past

couple of years. For type 2 diabetics, there is additional promise for the use of cocoa powder (pure chocolate without the fats and sugars of processed chocolate).

According to the Journal of American College of Cardiology June 3rd edition type 2 diabetics who consumed pure cocoa witnessed a 30% increase in arterial blood flow.

At the American Heart Institute’s conference in 2011, Harvard researchers looked at 21 studies involving 2,575 participants and found that cocoa consumption is associated with decreased blood pressure, improved blood vessel health, and improvement in cholesterol levles, among other benefits. Eric L. Ding, PhD, of Harvard Medical School believes the healths benefits come from polyphonic flavonoids in cocoa.

A presentation at the European Society of Cardiology (ESC) 2011 Congress showed that people who consumed the most chocolate had a 29% lower risk of stroke compared with people who consumed the lease amount of chocolate.

ProactiveLife (http://www.proactivelife.com) was founded in 2011 to help people living with chronic disease take control of their health. The approach incorporates community, lifestyle changes and natural supplements, which have been proven to assist people with type 2 diabetes.

A Community of expert dietitians and exercise trainers operating in the field of diabetes has been assembled by the company ProactiveLife (http://www.proactivelife). The purpose is to provide guidance to type 2 diabetics and pre-diabetics in terms of diet, exercise and natural supplementation. Experts agree proper diet (low in fats and sugars) along with regular exercise is crucial to diabetic management.

Diabetes Support contains 10 clinically proven ingredients to lower blood sugar naturally including pure cocoa, cinnamon, omega-3, vitamin D and others. Along with lifestyle changes including diet and exercise Diabetes Support is a new proactive approach to Type 2 Diabetes management.

CocoaWell offers benefits of Cocoa without the negatives of ChocolateDiets In Review (blog)March 6th, 2012




Many have heard that chocolate, especially dark chocolate, is actually good for your health. Specifically, the word is that the antioxidants in cocoa are the beneficial components to chocolate. Studies do back these claims, but is it a license to eat chocolate all in the name of health? Probably not. CocoaWell is a product that aims to provide the benefits of cocoa without all the sugar and calories of chocolate.

Hershey recently conducted a study that found that the antioxidants in cocoa powder are at a higher level than any of the major “super fruits.” Acai, blueberry, cranberry, and pomegranate are often renowned as the highly powerful antioxidant fruits.

Harvard research has also documented that the Kuna Indians from the San Blas Islands near the Panama Coast consume more cocoa than any other people in the world. They typically consume about 6 cups a day or 40 cups of

cocoa a week. Additionally, the Kuna have 1/9 the occurrences of heart attacks, strokes, diabetes, and cancer.

The case study seems to provide a lot of evidence for the benefits of cocoa. However, cocoa’s natural taste is very bitter which is why it is often mixed with sugar and cocoa butter. By that point, the health benefits have been largely negated. That is why CocoaWell created their cocoa supplements. The company puts pure cocoa in capsules allowing one to get large doses of the antioxidant rich cocoa without all the sugar and calories of chocolate.

CocoaWell describes the many health benefits of their product. “Our formulas are enhanced with Pure Plant Flavanol Complex, an exclusive blend of plant sources that deliver the incredible health benefits of flavanols such as catechin, epicatechin and EGCG. These potent polyphenols are among the most researched of all phytonutrients and support heart, brain, immunity and energy.”

DietsInReview.com’s dietitian Mary Hartley, RD shared her thoughts about the cocoa supplements. “At this point, I haven’t read that large amounts of cocoa supplements are harmful, and so a nutrition hobbyist may choose to take them. But don’t expect them to make up for an otherwise unhealthy lifestyle.”

Hartley also points out that no supplement will replace the nutrients absorbed from healthy foods.

“Well performed placebo-controlled trials did not support that taking other antioxidant supplements – vitamin C, vitamin E, beta-carotene, and others – gave substantial protection against heart disease, cancer, and other chronic conditions. The results of the largest such trials have been mostly negative. There seems to be something missing in supplements that is found in whole foods.”

Maybe we should get some cocoa recipes from the Kuna. If they’re eating it naturally, without adding sugar, and they’re not having to take it in pill form, they’re getting the best the plant has to offer. Until then, seems like there’s no free pass on chocolate and maybe no good reason to spend the money on the supplements.

How compounds found in cocoa, grapes and apples may benefit human healthNewstrack India07 Mar 2012Washington, (ANI): A new study has provided new insights into how flavanols and procyanidins - natural compounds commonly found in foods, such as cocoa, grapes, and apples - may work in the body to exert cardiovascular benefits. Researchers from Mars, Incorporated and the University of California, Davis have described the distinct roles of flavanols and procyanidins in the human body, which could provides a basis for improving the design and interpretation of future studies. Flavanols and procyanidins are sub-classes of a group of natural compounds called flavonoids. A growing body of evidence demonstrates that foods rich in these phytonutrients can have a positive impact on blood vessel function and cardiovascular health. To understand how the flavanols and procyanidins present in




certain foods may exert their cardiovascular effects, it is crucial to assess what happens to these compounds in the body following consumption. Previous studies have demonstrated that flavanols are absorbed, enter the body, and directly mediate improvements in cardiovascular function. In contrast, procyanidins have been shown to be poorly absorbed or not at all and evidence for a direct effect of procyanidins on blood vessel function is therefore limited. Nevertheless, as flavanols are the structural building blocks of procyanidins, it has been proposed that digestive processes in the gut may cause the breakdown of procyanidins into flavanols, which may subsequently be absorbed into the body. If correct, this "break-down hypothesis" would mean that procyanidins exert cardiovascular benefits by acting as precursors of flavanols. Answering this question is therefore crucial for a comprehensive understanding of the role of these phytonutrients for human health and nutrition. "Assessing whether or not procyanidins are absorbed or contribute to the systemic flavanol pool is more than just a technical distinction. In fact, the answers to these questions could have a significant impact on investigations into the mechanisms underlying the cardiovascular health benefits associated with the intake of flavanol- and procyanidin-containing foods," commented Dr. Hagen Schroeter - study author and director of fundamental health and nutrition research at Mars, Incorporated. As flavanols and procyanidins are commonly found together in foods, up until now it has not been possible to directly assess the individual contribution of procyanidins to the circulating pool of flavanols in the body. Using carefully developed, nutrient-matched cocoa-based drinks, containing flavanols and procyanidins either in combination or individually, the researchers in this study were able to confirm that procyanidins are poorly absorbed. More importantly, the study also demonstrated for the first time that procyanidins do not breakdown in the gut to contribute to the flavanols present in circulation. This outcome makes it very unlikely that procyanidins affect blood vessel function, either directly or through a breakdown into flavanols. Interestingly, the research also demonstrates that microorganisms in the digestive system transform both flavanols and procyanidins into another group of compounds called gamma-valerolactones. Further research is needed to investigate if, and to what extent, these compounds formed in the gut contribute to the cardiovascular health benefits observed following the consumption of foods rich in flavanols and procyanidins. In addition, the data of this study do not rule out the possibility that procyanidins may exert biological activities in the digestive system that may be beneficial for human health.

"The differences between the absorption and metabolism of flavanols and procyanidins, as demonstrated by this research, may prompt changes in how scientists design and interpret epidemiological investigations and in vitro studies to more meaningfully reflect what happens in the body," Dr. Schroeter said. "Furthermore, the fact that our results mean that it is unlikely that procyanidins exert direct effects on blood vessel function, may lead researchers to focus specifically on studying the mechanisms by which flavanols - and perhaps even gamma-valerolactones - affect cardiovascular function," he added.

Agriterra has bold strategy to grow its agricultural businessProactive Investors UKBy Giles GwinnettMarch 07, 2012



Production & Quality


Agriterra (LON:AGTA) has a bold strategy to grow its pan-African agricultural business.

The acquisition in December of 45,000 hectares of brownfield land in Sierra Leone that is ripe for development into a palmoil plantation illustrates the plan, it said.

The palmoil division is one of Agriterra's four businesses. The others focus on cattle ranching, maize farming and

cocoa farming and trading. Its plan to become a 'field to fork' operator across Africa has made great strides in recent months, particularly in beef, cocoa and palmoil.

"With Agriterra, we already have established operations generating significant revenues, in addition to further high growth/margin revenue streams which are due to come on stream over the next 12 months.

"This business model is building value for our shareholders and has recently translated into a strengthening share price," said chief financial officer Neil Clayton.

Last week’s interim results prompted the shares to rise more than 6 per cent, to 3.35 pence.

Clayton said he was "very pleased" with the numbers, pointing out that it validated the group's expansion strategy, especially the development of two new revenue streams - in beef and cocoa – in addition to its established maize operations.

In the six months to 30 November, Agriterra reported turnover of US$5.3 million (2010: US$5.3 million) and a pre-tax loss on continuing activities of US$3.5 million (2010: pre-tax profit of US$ 0.1 mln).

In the statement, the company also revealed it was well funded with cash of US$11.4 million - an increase from its position at year-end due to a share placing, completed at a significant premium to the share price, which raised US$15 mln.

Looking ahead, Clayton said he believed three businesses will be making a contribution to overheads. He highlighted the good performance of cocoa subsidiary Tropical Farms Limited (TFL), which is already contributing US$1.4 million to revenues.

Clayton said TFL had been acquired last July as an undercapitalised business but that Agriterra's investment had enabled it to develop. And the firm has ambitious plans for the subsidiary - aiming to expand its cocoa operations to 40 locations from 12, and revealing last week it had bought a five acre site in the country's third largest city to develop a processing facility.

The company has also told investors it is in negotiations to acquire new land for a cocoa plantation.

These talks are aimed at securing the firm's own cocoa plantation, which would allow it to enhance the firm's traceability and sustainability, attracting premium prices, said Clayton. Plantations being considered had old cocoa in them, where Agriterra may be able to extend their economic life, he added.

In the group's maize business, the period saw an excellent buying season with 34,000 tonnes of maize purchased - representing a 9,000 tonne increase on the comparable period in 2010. Indications now suggest that the current strong demand for grain may continue through the second half of this year and into next year.

The group also reported rapid progress at Mozbife - its beef business. Cattle numbers at the Mavonde and Dombe ranches are growing rapidly and are on track to reach 10,000 head by 2015, while the Vanduzi feedlot is now operational and has a capacity of around 2,000 head.

In addition, Clayton said the firm's abattoir was due to open in the second half of 2012, which would enable the firm to improve its margins. Other key targets, he said, were to move towards establishing the firm's own cocoa plantation and, in the maize business, to build on its export markets. Clayton says Africa focused Agriterra,




which wants to become a leading food supplier, offers investors a stake in a high growth sector where there are not many listed vehicles.

Indonesia's February cocoa bean exports fall 20 percentMarch 04, 2012RECORDER REPORTIndonesia's cocoa bean exports from its main growing island of Sulawesi slipped 20 percent in February from the same month a year ago, and was down 11 percent from the previous month, industry data showed on Thursday.

Sulawesi cocoa exports were at 7,917.7 tonnes in February from 9,871.4 tonnes a year ago, data from the Indonesia Cocoa Association showed.

January exports were at 8,904.25 tonnes.

Indonesia is the world's third-largest cocoa producer after Ivory Coast and Ghana but its industry is battling disease and adverse weather conditions that have hampered cocoa supplies.

Government tax incentives, including export tariffs and investment tax holidays, have boosted domestic cocoa grinding demand, and is also seen cutting bean exports from Southeast Asia's largest economy.

"The main major factor is more local grinder demand," said a Jakarta-based cocoa trader and grinder.

"With an export tax in place, a lot of the beans are being processed locally." Indonesia's cocoa output is estimated to rise to 1.3 million tonnes this year, from 712,230 tonnes in 2011, according to the agriculture ministry.

However, the Indonesian Cocoa Association's estimates differ greatly from the government, with production seen at around 500,000 tonnes this year versus 420,000 tonnes in 2011.

Sao Tome sells US$5.1 million in cocoa in 2011MacauhubMarch 6th, 2012

Sao Tome and Principe netted around 92 billion dobras (US$5.1 million) from cocoa exports in 2011, which accounted for 96 percent of the country’s agricultural exports last year, the archipelago’s National Statistics Institute (INE) said Monday in Sao Tome.

According to INE revenues from cocoa sales in 2011 fell 8 percent against 2010 when the country netted 99 billion dobras (US$5.5 million) from cocoa exports.

In terms of quantity, there was a fall of 8.1 percent in the period with cocoa exports falling from 2,413 tons in 2010 to 2,218 tons in 2011.

The biggest exports after cocoa were coconut with sales of around US$910,000, chocolate with US$580,000 and oil with US$388,000.

The list of Sao Tome cocoa exporters in 2010 was topped by Cooperativa Exportação de Cacau Biológico (Cecab), followed by Sociedade Agro-Comercial (Agricon) and Sociedade de Comércio, Gestão e Investimento (CGI).

The main international importers of Sao Tome agricultural products are Portugal, the Netherlands, Belgium, Angola, the Bahamas, and France.



The Market


Cocoa crops were introduced to Sao Tome by Portuguese colonists in the 19th century and to this day is the basis of the Sao Tome and Principe economy. (macauhub)

Ghana pledges firm cocoa price for its farmersReuters Africa By Kwasi KpodoMar 8, 2012 ACCRA (Reuters) - Ghana has no plans to cut the price at which it buys cocoa from its farmers in the coming 2012/13 season despite the dive in the world market price of cocoa over the past year, the industry regulator of the world's number two grower said on Thursday.

Cocoa futures are trading at just under $2,300 a tonne, about a third down on this time last year when the political conflict in top grower Ivory Coast triggered fears of tight supplies that have since been proven unfounded.

Regulator Cocobod is the sole buyer for the country's cocoa at a fixed rate of 3,280 cedis, which at current exchange rates is almost double the price achieved by Ivorian farmers in some regions - a differential which has prompted sustained smuggling of Ivorian cocoa into Ghana.

"There are no plans, nor proposals to reduce the producer price now or at the start of the upcoming season - it'd be difficult to justify that sort of decision and I don't see it happening," said Cocobod spokesman Noah Amenyah.

"The number one objective is to make cocoa farming attractive to our people, including the youth - it's a reward system for them as stakeholders in our drive to significantly improve production," Amenyah said.

At least 500,000 farmers' families are dependent on cocoa in Ghana. President John Atta Mills is seeking a second term in what is expected to be a tight election race in December.

Ghana has a producer price review committee, comprising representatives of farmers, buyers, Cocobod and the government. They meet ahead of every crop year to recommend the buying price to government, generally around October.

Amenyah said there were safety valves built into the pricing mechanism such as a stabilisation fund used to cushion the effects of price changes on world markets.

Cocoa export profit windfalls are lodged in the fund when market prices are high. This serves as a buffer and provide resources to the government for the payment of producer prices during periods of price falls. Ivory Coast is seeking to create a similar stabilisation mechanism to guarantee its farmers a minimum price.

But for now its farmgate prices remain highly volatile and exporters and analysts forecast anything up to 145,000 tonnes could be smuggled out of the country in the season to end-April, with most of it bound for Ghana.

Ghana produced a record more than one million tonnes of cocoa last year. Analysts and traders have estimated up to a fifth of that was smuggled in from Ivory Coast, but Cocobod disputes those figures and says the bumper crop was the result of improved farming techniques and favourable weather.

ICCO Forecasts Global Cocoa deficit in 2011/12Peace FM OnlineSource: B&FT09-Mar-2012 The International Cocoa Organisation (ICCO) has forecast a global cocoa deficit of 71,000 tonnes this season (2011/12) following last season’s 347,000-tonne surplus, owing to the return of poor weather in the main African producing countries, says an Ecobank research report.

World production is now forecast at 3.96m tones -- 8% lower than the revised outturn for 2010/11, while cocoa grindings are expected to rise by 2% to 3.99m tonnes.




In sub-Saharan Africa production is set to fall by 384,000 tonnes to 2.8m tonnes, of which 1.35m tonnes will come from Côte d’Ivoire (down from 1.51m tonnes last season) and 970,000 tonnes from Ghana (down from 1.025m tonnes).

With global consumption growing strongly, the ICCO expects prices to be supported throughout the year although in the short-term ample global supplies and a stock-to-use ratio of nearly 50% should keep a lid on any price increase. Outlook for Côte d’Ivoire’s mid-crop remains unclear.

The outlook for Côte d’Ivoire’s mid-crop (April-September) remains unclear, with conflicting views on whether it will match last year’s record outturn of 472,000 tonnes.

Concerns were raised by the dry spell across the main growing regions that started in November, owing to an unusually strong Harmattan that caused a tailing-off in the main crop and which is likely to delay the start of the mid-crop until May. With fears growing that supplies from the world’s largest producer will dry-up, international prices have risen nearly 13% since the start of the year, reversing their steady decline since last April.

However, the crop damage caused by the dry weather could be lower than feared after the main growing regions received 10-15mm of rain in late February. According to data from the Bourse du Café-Cacao (BCC), cocoa arrivals at the country’s second-largest cocoa port, San Pedro, reached 449,341 tonnes by February 19th -- up 19.8% year on year, indicating a surge in supplies in the final weeks of the main crop.

However, it is not clear if this sharply higher trend has been matched by Abidjan port, through which half of the country’s cocoa exports pass. Given the prospect for a better-than-expected mid-crop, which the ICCO expects to come in at 350,000 tonnes, Ecobank expects Côte d’Ivoire to produce 1.39m tones in 2011/12 -- 9% lower than last season but still one of the highest outturns over the past decade.

Main traders end boycott of Côte d’Ivoire’s forward cocoa auction The main cocoa buyers and traders in Côte d’Ivoire, comprising the International Trader Group and Gepex, an organisation of cocoa processors and exporters including Olam, Nestlé and Cargill, have agreed to participate in forward sales of the 2012/13 crop. The daily auctions were introduced at the end of January but most buyers boycotted them, complaining of a lack of transparency and safeguards.

One of the main concerns relates to the payment of contracts at the start of the 2012/13 season, when buyers of futures must either be reimbursed or pay the difference between their futures contract price and the reference price for the season (which is averaged from all the contracts sold over the preceding months).

In order to mitigate this risk, the government has set up a special fund to manage the forward sales programme that will be funded by a tax on cocoa exports, and it hopes to build this up to US$80m by the start of the 2012/13 season. The ministry of agriculture has also set up a special committee to oversee the reform process and respond to stakeholder concerns.

However, there are still financial and operational issues that traders, exporters and cocoa processors need to resolve with the government and the new regulator of the sector, Conseil du Café-Cacao (CCC): the most thorny concerns the schedule of costs which traders complain does not take into account the cost of delivering beans from different parts of the interior to the auction house.

It is too early to say if the reform effort will achieve its overall goal of ensuring that farmers receive 50-60% of the international CIF cocoa price for their beans. But Ecobank anticipates more short positions on the futures market as traders and exporters seek to hedge the cocoa they have purchased from the forward auction.

Global cocoa prices continued to fluctuate throughout February, driven by speculation over the impact that dwindling supplies from Côte d’Ivoire and Ghana’s main crops would have on the global market.

After slipping at the start of the month prices rose to over US$2,450/tonne mid-month before moderating to US$2,383/tonne at the end of the month 12.7% up since the start of the year. With improving global demand and lower output from West Africa’s main and mid-crops, cocoa prices are likely to remain strong in the weeks




ahead. However, recent good rains across West Africa could result in a better-than-anticipated harvest, driving prices below US$2,000/tonne by the middle of the year.

What Makes Dutch Process Cocoa Different?YumSugar.comBy Laura Marie 03/05/12

Chocolate · burning question · Cocoa Powder · Dutch Process Cocoa

Ever wondered how Dutch process cocoa differs from natural cocoa? We've got the answer: both types of cocoa powder are unsweetened, but Dutch process cocoa is treated with an alkalizing agent to neutralize its natural acidity.

Created by Dutch chocolate maker Coenraad Johannes van Houten, the process results in not only lower acidity but also a milder, less bitter taste and a darker color.

So how does this affect your recipes? Since Dutch process cocoa has a neutral pH, it doesn't react with baking soda. Instead, Dutch process cocoa should be mixed with baking powder for leavening. Although the two types of cocoa powder are certainly interchangeable in some recipes, the results will vary if you substitute one for the other.

What to remember: Dutch process cocoa is darker with a more complex flavor, while natural cocoa powder has a light color and a more fruity taste. Most recipes remove the guesswork, because directions typically state whether or not Dutch process cocoa is preferred.

SAF CACAO delays cocoa grind capacity expansionReuters AfricaBy Sarah McFarlane and Ange AboaMar 9, 2012 SAN PEDRO (Reuters) - Ivory Coast cocoa exporter SAF CACAO has delayed plans to expand its grinding capacity for when the government's cocoa reform has been fully implemented in the 2012/13 October-September season, the managing director said on Friday.

The firm, based in the major cocoa exporting port of San Pedro, has capacity to grind around 30,000 tonnes of cocoa beans per year. "Initially the plan was to expand to 100,000 tonnes from now but we want to see what happens with the reform," Ali Lakiss told Reuters.

SAF CACAO has agreed with the bank granting the loan for the expansion to delay plans by one year, Lakiss said. "We are on standby to see what happens with the cocoa reform."

The Ivory Coast's cocoa sector is returning to a stabilisation system which includes a guaranteed price for farmers and forward selling up to 80 percent of its crop.

The forward sales auctions for the 2012/13 crop launched on January 31, but initially many in the industry boycotted them, asking for more detail and clarity on the new system.

One concern was the future of a 20-year-old tax break given to local processors, however, Lakiss said as his grindings factory opened in 2010 he does not receive the same tax breaks as factories which have existed for longer.

POOR QUALITY BEANS



Processing & Manufacturing


SAF CACAO had planned to purchase around 140,000 tonnes of cocoa to both export and supply its grindings factory in the 2011/12 season, but now expects total purchases will be around 75,000 tonnes, after a sharp fall in quality, Lakiss said.

"Ninety percent of the cocoa delivered to SAF CACAO since February 15 has been rejected," Lakiss said.

Problems cited included small bean sizes, high levels of free fatty acids (FFA) - which can make chocolate taste acidic - and a high incidence of black mouldy beans.

The quality issue has been a factor in reducing SAF CACAO's grinding capacity utilization to around 75 percent, Lakiss said. "We were running at 100 percent utilisation when the beans were good."

Lakiss said he expects the world's top producer's April - September mid crop to produce between 280,000 tonnes and 300,000 tonnes of cocoa.

This is slightly below commodities brokerage Marex Spectron's February estimate for the Ivory Coast's 2011/12 mid crop of 310,000 tonnes, compared with 448,000 tonnes the previous year.

Last week the International Cocoa Organization (ICCO), in its first forecast for the 2011/12 season, put world production at 3.96 million tonnes, down 8.0 percent from the prior season when ideal weather boosted West African output.

"Normally if there's good rain now we could expect average production, but the rain is not good and is under expectations so we expect less cocoa," Lakiss said.

"Small bean sizes means we had a strong Harmattan (wind) and a deep dry season and this situation has a negative impact on medium term cocoa production."

Europe cash cocoa-Focus shifts to West African mid cropReuters AfricaFri Mar 2, 2012 * Mid crop beans expected to arrive from May* Differentials near unchanged in slow trade

ABIDJAN, March 2 (Reuters) - Small volumes of West African beans were traded this week as attention turned to the upcoming mid crop, with main crop supplies almost dried up, dealers said on Friday. "Last week we were talking about the end of the main crop but now we're more focused on the light crop," said a European dealer.

Top grower Ivory Coast's October-to-March main crop is drawing to an early close after an unusually long dry and windy spell hampered growing, and farmers expect the first beans of the April-September midcrop will not arrive until May or June.

Companies with local grinding capacity have been active buyers in recent months, securing supplies following initial delays to participating in the Ivory Coast's auctioning system launched in January to forward sell some of its 2012/13 crop.

The GEPEX group of exporters - which includes the major cocoa processors - only began participating in Ivory Coast's auctions last week, after seeking more clarity on the new syste "Most people are covered. There's not much left of the current Ivorian crop as processors have bought up beans," said a second European trader.

Cocoa arrivals at Ivory Coast's port of San Pedro slowed to 12,353 tonnes from Feb. 20 to Feb. 26, from 13,114 tonnes the previous week, according to data from the Coffee and Cocoa Bourse (BCC).



Business & Economy


Ivory Coast differentials were unchanged on the week at about 70 pounds over London nearby cocoa futures contracts , while Ghana differentials were around 95 pounds over London nearby cocoa futures, versus 90 pounds the previous week.

Earlier this week, the International Cocoa Organization (ICCO), in its first forecast for the 2011/12 season, put world production at 3.96 million tonnes, down 8.0 percent from the prior season when ideal weather boosted West African output. (Reporting by Sarah McFarlane; editing by James Jukwey)

Ivory Coast gets customs revenue boost as Cocoa Shipments ResumeBloombergBy Baudelaire Mieu at [email protected] 7, 2012 Ivory Coast’s customs department earned 11 percent more than expected last month after cocoa shipments began following a dispute over a new system of selling the beans, said Issa Coulibaly, director-general of customs.Revenue at the West African nation’s customs department reached 93 billion CFA francs ($186 million) in February, more than forecasted earnings of 84 billion francs, he said in an interview in the commercial capital, Abidjan, yesterday.

“Cocoa shipments have fully resumed,” Coulibaly said.

Ivory Coast, the world’s biggest producer of the chocolate ingredient, began advanced sales of the beans in January. Some exporters declined to participate in the auctions, demanding that authorities provide guarantees before the upcoming harvest is sold under the new system. An agreement was reached last month.

The country may produce 1.39 million metric tons of cocoa in the current 2011-2012 crop harvest, Edward George, a commodity specialist at Ecobank Transnational Inc. (ETI), said in an e-mailed report today.

Cocoa farmers call for re-introduction of Akuafo ChequeMyjoyonline.comMarch 5, 2012,



Labour Issues

Research & Development

Promotion & Consumption

Others

Environmental Issue


Cocoa farmers in four cocoa producing Regions have appealed to the government to re-introduce the Akuafo Cheque payment system to replace the current cash payment for their products. The farmers from Central, Eastern, Volta and Western Regions made the appeal at a day’s sensitization workshop on the re-introduction and enforcement of the Akuafo Cheque payment system at Agona Swedru, on Saturday.

The Workshop was organised by the Ghana Cocoa, Coffee, and Shea Nut farmers Association, with sponsorship from the BUSAC Fund, the Embassy of Denmark, USAID and the International Development Cooperation. According to the cocoa farmers, the re-introduction of the Akuafo cheque would eliminate fraud and also the cheating of farmers by Cocoa Purchasing Clerks (PC’s).

It will also prevent the attacks on PC’s by robbers during their journey to the various farming societies to pay the farmers.

Mr Joseph Atayem Awantungo, Consultant on the BUSAC Fund Advocacy Action and Anthony N. Essuah, a researcher from BUSAC, said the workshop was to discuss the research finding they conducted on the re-introduction of the Akuafo Cheque Payment System and the current Cash payment system on Cocoa, Coffee and Shea nut.

They said the research revealed that over 94 per cent of cocoa farmers are over 50 years old and that most of the youth were not into farming, a situation they described as not the best. The research further revealed that most farmers are exposed to danger since most of them are attacked by armed robbers anytime they return to their villages after selling their produce.

The situation has also led to the keeping of huge sums of money by the farmers in their rooms, adding that, some PC’s take advantage of the system and bolt with the monies meant for cocoa purchases.

The Western Regional Chief cocoa farmer, Nana Johnson Mensah said if the Cheque system is re-introduced; it will enable the farmers to save with the banks and also give them access to loans to maintain and expand their farms.

Nana Kwesi Ofori Central Regional Chief cocoa farmer, appealed to government to put in place more measures for cocoa farmers, to encourage them to work hard to maintain Ghana’s status on the World cocoa market.

Alhaji Alhassan Bukari, National Cocoa, Coffee and shea nut Chief Farmer, who chaired the workshop, urged farmers to unite and work towards increasing production.




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