Wednesday, December 30, 2009

Industry Focus - Agriculture

Cote d'Ivoire: Cocoa arrivals at ports reached about 474,000 tonnes by the end of last week compared with 383,960 tonnes in the same period of the previous season. Exporters fear volumes could drop in the coming weeks, given the reported fall in cocoa arrivals to the port of Abidjan. Crop productivity also remains low due to aging trees, underinvestment and administrative problems.

Kenya: Benchmark coffee prices climbed 79% at the last auction due to an improvement in the quality of beans, as stated by the Nairobi Coffee Exchange. The best price for the finest beans of the grade rose to USD 601 for 50-kgs compared with USD 336 two weeks earlier.

Ghana: Purchases of Ghanaian cocoa has increased 9% within the first 7 weeks of the 2009/10 crop season. Yearly volumes reached 324,452 tonnes compared to 297,716 tonnes during the same period last year. Total deliveries of the crop are projected to reach 700,000 tonnes by the end of marketing season.