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					                        COPAL COCOA Info
                             A Weekly Newsletter of Cocoa Producers' Alliance
                Issue No. 302
In-House Cocoa Newsletter                                                          22nd – 26th September
                2008
 Cocoa Producers' Alliance




                                 UP-COMING EVENTS                                   IN THIS ISSUE
                                                                                    INSIDE THIS ISSE:

                       COPAL COCOA DAY CELEBRATIONS IN MEMBER                 ICCO DAILY COCOA PRICES
                        COUNTRIES, 1ST OCTOBER 2008
                                                                               LONDON (LIFFE) FUTURES
                       EUROCHOCLATE 2008, 16-26 OCTOBER 2008,                  MARKET UPDATE
                        PERUGIA, ITALY
                                                                               NEW YORK (ICE) FUTURES
                       NATIONAL COCOA ACADEMIES SYMPOSIUM,                     MARKET UPDATE
                        OCTOBER 28-30 2008, KUMASI, GHANA
                                                                               FROM THE NEWS MEDIA
                                                                               TIT BITS




                                 Do your health a favour, drink Cocoa everyday
                                           ‘It’s nature’s miracle food’
 In the News (from Newspapers worldwide)
 Health and Nutrition
   Cocoa show promise in maintaining cardiovascular health         Promotion
   Processed Cocoa Loses Two-Thirds of Health-Enhancing             Cocoa Festival launched at Akuapem-Mampong
    Alkaloids                                                        First United States Barry Callebaut Chocolate Academy
   Chocolate helps heart stay healthy                                 Opens in Chicago
   Chocolate and heart diseases
   Is chocolate really good for the heart?                         Labour Issues
                                                                     Children rescued from child labour in three districts
Production and Quality
   Ivorian 08/09 cocoa season to start on time –chief              Environmental Issues
   Nigerian cocoa exports climb 26 pct in Aug yr-on-yr              Ivorian weather helps cocoa but disease fears grow
   Cocoa production to go up
   Ghana 08/09 early cocoa crop has slow start –buyers             Others
   Farmers advised to produce quality cocoa                         Cocoa farmers to get increased payment
                                                                     Ivory Coast Says Disbands BCC, Begins Reform
Processing and Manufacturing                                         Ivorian cocoa farmers doubt reforms will help them
 Nigerian Cocoa Grinder targets 60,000 ton Capacity                 Cocoa farmers say they need regular supply of pesticides
 Mars Snackfood US launches Dove Chocolate Discoveries              International cocoa sector mourns Baah-Wiredu

Business & Economy
 Indonesia Scraps Import Duty for Cocoa, Steel, Key Industries
 Ivorian cocoa prices rise as sector reforms begin
 CAMPCO to buy cocoa beans from AP
 LBCs warned against buying fresh cocoa beans
 First United States Barry Callebaut Chocolate Academy Opens in
   Chicago
 Cacao and Coffee Farmers Co-op formed in Punta Gorda


 ICCO Daily Cocoa Prices
                            ICCO daily price              ICCO daily price      London futures                  New York
                              (SDR/tonne)                   ($US/tonne)            (£/tonne)                     futures
                                                                                                               ($US/tonne)
  22nd September                  1764.96                    2769.43                 1530.33                      2741.33
  23rd September                  1743.49                    2756.07                 1515.67                      2727.33
   24th September                 1778.62                    2799.13                 1544.33                      2766.33
   25th September                 1774.12                    2793.44                 1543.00                      2768.67
   26th September                 1771.39                    2782.46                 1545.67                      2744.00
       Average                    1767.00                    2789.00                 1536.00                      2750.00




                   COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,                                    2
                       P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
                              Email: econs@copal-cpa.org Website: www.copal-cpa.org
                International Financial Futures and Options Exchange (LIFFE)
                         London Futures Market – Summary of Trading Activities
                                            (£ per tonne)



Monday                22nd Sept.               2008
Month                      Opening Trans           Settle       Change     Daily High   Daily Low   Volume
    Dec 2008                   1531                1513           1           1535        1450      7,500
    Mar 2009                   1542                1539           9           1555        1479      5,490
    May 2009                   1541                1539           12          1547        1513       517
    Jul 2009                   1549                1548           12         1554S        1544       172
    Sep 2009                   1548                1550           11         1558S        1548S      400
    Dec 2009                                       1555           10                                  0
    Mar 2010                                       1561           10                                  0
    May 2010                                       1567           10                                  0
     Jul 2010                                      1548           10                                  0
    Sep 2010                                       1548           10                                  0
Average/Totals                                     1547                                             14,079




Tuesday               23rd Sept.               2008
Month                      Opening Trans           Settle       Change        High        Low       Volume
    Dec 2008                   1521                1502           -11         1536        1491      3,937
    Mar 2009                   1547                1523           -16         1557        1515      1,497
    May 2009                   1543                1522           -17         1547        1521       119
    Jul 2009                   1536                1530           -18        1546S        1531S       47
    Sep 2009                   1543                1535           -15         1543        1534S       4
    Dec 2009                                       1540           -15                                 0
    Mar 2010                                       1546           -15                                 0
    May 2010                                       1552           -15                                 0
     Jul 2010                                      1533           -15                                 0
    Sep 2010                                       1533           -15                                 0
Average/Totals                                     1532                                             5,604




Wednesday             24th Sept.               2008
Month                      Opening Trans           Settle       Change        High        Low       Volume
    Dec 2008                   1506                1529           27          1540        1501      4,694
    Mar 2009                   1531                1553           30          1565        1523      7,357
    May 2009                   1540                1551           29          1561        1538S      436
    Jul 2009                   1552                1556           26          1563        1552        35
    Sep 2009                   1534                1558           23          1567        1534      1,151
    Dec 2009                   1553                1564           24          1565        1553        90
    Mar 2010                                       1570           24                                  0
    May 2010                                       1576           24                                  0
    Jul 2010                                       1557           24                                  0
    Sep 2010                                       1557           24                                  0
Average/Totals                                     1557                                             13,763




                 COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,                3
                     P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
                            Email: econs@copal-cpa.org Website: www.copal-cpa.org
Thursday               25th Sept.              2008
Month                      Opening Trans           Settle       Change        High        Low       Volume
    Dec 2008                   1527                1530           1           1538        1518      2,141
    Mar 2009                   1545                1554           1          1561S        1543      3,314
    May 2009                   1541                1545           -6         1557S        1537       923
     Jul 2009                  1555                1545           -11        1560S        1538        30
    Sep 2009                   1549                1545           -13        1560S        1549S       45
    Dec 2009                   1546                1548           -16        1546S        1546S       1
    Mar 2010                                       1554           -16                                 0
    May 2010                                       1560           -16                                 0
     Jul 2010                                      1541           -16                                 0
    Sep 2010                                       1541           -16                                 0
Average/Totals                                     1546                                             6,454




Friday                 26th Sept.              2008
Month                      Opening Trans           Settle       Change        High        Low       Volume
    Dec 2008                   1529                1531           1           1542        1513      3,369
    Mar 2009                   1548                1557           3           1565        1539      3,354
    May 2009                   1541                1549           4           1550        1530       127
     Jul 2009                                      1549           4                                   0
    Sep 2009                                       1550           5                                   0
    Dec 2009                                       1553           5                                   0
    Mar 2010                                       1559           5                                   0
    May 2010                                       1565           5                                   0
     Jul 2010                                      1546           5                                   0
    Sep 2010                                       1546           5                                   0
Average/Totals                                     1551                                              6850




Average for the week                               1551                                              9350
                                                                                                    46,750




                 COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,                4
                     P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
                            Email: econs@copal-cpa.org Website: www.copal-cpa.org
                                      New York Board of Trade
                       (New York Futures Market – Summary of Trading Activities)
                                           (US$ per tonne)



Monday                22nd Sept.              2008
Month                          Open              Price       Change        High        Low          Volume
    Dec 2008
    Mar 2009
    May 2009
    Jul 2009
    Sep 2009
    Dec 2009
    Mar 2010
    May 2010
     Jul 2010
Average/Totals                                  #DIV/0!                                               0



Tuesday               23rd Sept.              2008
Month                          Open              Price       Change        High        Low          Volume
    Dec 2008                   2731               2702         -24         2745        2685          8366
    Mar 2009                   2743               2715         -21         2755        2705          2085
    May 2009                   2708               2714         -20         2746        2708          198
    Jul 2009                   2745               2713         -20         2745        2713           4
    Sep 2009                                      2720         -21         2720        2720           19
    Dec 2009                   2749               2722         -22         2749        2722           46
    Mar 2010                                      2727         -21         2727        2727           28
    May 2010                                      2727         -21         2727        2727
     Jul 2010                                     2727         -21         2727        2727
Average/Totals                                    2719                                              10746



Wednesday             24th Sept.              2008
Month                          Open              Price       Change        High        Low          Volume
    Dec 2008                   2721               2757         55          2785        2720         4,659
    Mar 2009                   2749               2771         56          2798        2736         1,249
    May 2009                   2736               2768         54          2795        2736          108
    Jul 2009                   2744               2768         55          2768        2744           16
    Sep 2009                                      2775         55          2775        2775           31
    Dec 2009                   2746               2778         56          2778        2746           52
    Mar 2010                                      2782         55          2782        2782
    May 2010                                      2782         55          2782        2782
     Jul 2010                                     2782         55          2782        2782
Average/Totals                                    2774                                               6115




                 COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,                  5
                     P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
                            Email: econs@copal-cpa.org Website: www.copal-cpa.org
Thursday               25th Sept.              2008
Month                            Open            Price       Change        High        Low           Volume
    Dec 2008                     2760             2740         -17         2794        2725           7,091
     Mar 2009                    2769             2753         -18         2806        2741           1,623
    May 2009                     2769             2751         -17         2800        2751             34
     Jul 2009                    2777             2752         -16         2777        2752            108
    Sep 2009                                      2759         -16         2759        2759             13
    Dec 2009                     2790             2762         -16         2790        2762             23
     Mar 2010                                     2766         -16         2766        2766             8
     May 2010                                     2766         -16         2766        2766
     Jul 2010                                     2766         -16         2766        2766
Average/Totals                                    2757                                                8900



Friday                 26th Sept.              2008
Month                            Open            Price       Change        High        Low           Volume
    Dec 2008                     2739             2743          3          2772        2710           4,930
     Mar 2009                    2748             2755          2          2780        2720           1,637
    May 2009                     2758             2755          4          2758        2744            299
     Jul 2009                                     2756          4          2756        2756             13
    Sep 2009                                      2763          4          2763        2763             4
    Dec 2009                                      2765          3          2765        2765             6
     Mar 2010                                     2769          3          2769        2769
     May 2010                                     2769          3          2769        2769
     Jul 2010                                     2769          3          2769        2769
Average/Totals                                    2760                                                6889



Average for the week                             2760                                                 8163
Total for the week                                                                                    32,650



Spot Prices (US $ per tonne)
                                               22nd         23rd         24th         25th             26th
                                             September   September    September    September        September
Main Crop Ghana, Grade 1                       3193         3169         3224         3207            3210
Main Crop Ivory Coast, Grade 1                 3041         3017         3072         3055            3058
Main Crop Nigerian, 1                          3023         2999         3054         3037            3040
Superior Arriba                                3091         3067         3122         3105            3108
Sanchez f.a.q                                  3096         3072         3127         3110            3113
Malaysian 110                                  2711         2687         2742         2725            2728
Sulawesi f.a.q                                 2949         2925         2980         2963            2966
Ecuador Cocoa Liquor                           4607         4566         4659         4631            4636
Pure Prime Press African Type Cocoa Butter     7724         7656         7812         7763            7772
10/12% Natural Cocoa Press Cake                1145         1135         1158         1151            1152
Source: Cocoa Merchant Association




                 COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,                    6
                     P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
                            Email: econs@copal-cpa.org Website: www.copal-cpa.org
                                                 News

Health and Nutrition
Cocoa show promise in maintaining cardiovascular health
Scientist Live, UK
By Marc Landas
23/09/2008

                                          Cocoa has a long and storied history, from Pre-Columbian
                                          Mesoamerican rituals to the Cadbury bars lining newsagent counters.
                                          Its story, however, is still being written.

                                          According to recent studies, Cocoa flavanols, the unique compounds
                                          found naturally in cocoa, may increase blood flow to the brain. The
                                          researcher suggest that long-term improvements in brain blood flow
                                          could impact cognitive behaviour, offering future potential for
                                          debilitating brain conditions including dementia and stroke.

In a scientific study of healthy, older adults ages 59 to 83, Harvard medical scientists found that study
participants who regularly drank a cocoa flavanol-rich beverage made using the Mars, Incorporated Cocoapro
process had an eight percent increase in brain blood flow after one week, and 10 percent increase after two
weeks.

1. What are cocoa flavanols and what is their chemical composition?

Cocoa flavanols are a type of phytonutrients that belong to a larger group of compounds called flavonoids.

2. Why are they beneficial to the body and how do they act?
The consumption of flavanols found in cocoa has been linked to circulatory health benefits. While some suggest
that cocoa flavanols function as antioxidants, more recent advanced evidence suggests that consuming cocoa
flavanols may positively impact blood vessel function and may even reduce the tendency of blood to clot. These
effects are independent of the antioxidant properties that flavanols exhibit in a test tube. The studies we have
published in collaboration with our academic partners suggest the circulation health benefits of Mars' flavanol-
rich cocoa are of interest to those studying cardiovascular health, cognitive health and the maintenance of health
in those with type 2 diabetes.

3. Are flavanols found in commonly ingested forms of chocolate? If so to what degree?

Despite the fact that the cocoa seed is a rich source of flavanols, not all cocoa-products contain appreciable
amounts of flavanols. Traditional cocoa processing often destroys the highly-sensitive flavanols. The
Cocoapro(r) process developed by Mars, Incorporated helps preserve consistently high levels of cocoa flavanols
in a way that may be beneficial to health - which is what really counts when you're talking about cocoa and
health. So, contrary to popular reports, there's no guarantee that any type of chocolate - including a 70% or more
cacao dark chocolate - contains significant levels of flavanols, unless carefully handled and processed.

4. Are there any harmful effects?

We haven't seen harmful effects of our flavanol-rich cocoa in any of the many human consumption studies we
have completed.

5. Your study cites an 8% increase in blood flow after one week and 10% after two weeks. At what point does
flavanol activity plateau?




               COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,                            7
                   P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
                          Email: econs@copal-cpa.org Website: www.copal-cpa.org
The key finding of this first-of-its-kind study is the resulting short and long-term (maintained) benefits of cocoa
flavanols for brain blood flow. The body of research suggests that it's the habitual intake of cocoa flavanols that
offers a benefit, but more longer term research is needed to understand if, or when, there would be a plateau.

6. Are there potential therapeutic applications for your findings and how can they be applied outside the
laboratory?

The research on cocoa flavanols is promising, suggesting that cocoa flavanols may provide a dietary approach to
maintaining cardiovascular function and health, and pointing towards new possibilities for cocoa flavanol-based
interventions for vascular complications associated with cognitive performance, skin health and age-related
blood vessel dysfunction. These specific findings could offer future potential for the one in seven older
Americans currently living with dementia. When the flow of blood to the brain slows over time, the result may
be structural damage and dementia. Scientists speculate that maintaining an increased blood flow to the brain
could slow this cognitive decline.

In additional, the findings from a recent Journal of the American College of Cardiology study hold significant
promise for patients with type 2 diabetes, given the severe complications linked to blood vessel dysfunction in
this population. Impaired blood flow and blood vessel dysfunction is an early stage in the development of
cardiovascular disease and heart disease and stroke is the cause of death for two-thirds of those with diabetes.
The findings reveal that those who drank a flavanol-rich cocoa beverage made using the Mars Cocoapro(r)
cocoa experienced a 30 percent improvement in their blood vessel health after 30 days of consumption.

7. Describe the Cocoapro process and how it increases flavanol benefits in products made via that process.

For more than 15 years, Mars, Incorporated has been researching the biomedical potential of cocoa and cocoa
flavanols. We have also collaborated with scientists at leading universities, allowing us to conduct and support a
significant share of the research in the field of cocoa flavanols. It is this understanding that allowed Mars to
develop the patented and proprietary process called Cocoapro(r) that helps retain the flavanols normally
destroyed during processing. This proprietary method includes careful bean selection, fermenting, roasting,
processing and recipe formulation.

8. What is the next step, in terms of flavanol research and application?
The Mars, Incorporated commitment to understanding the health potential of cocoa and cocoa flavanols is
demonstrated by the nearly two decades of research we have dedicated in this area. Working in collaboration
with top research institutions around the world, Mars, Incorporated continues to lead the way in exploring the
nutritional and medical potential of cocoa flavanols.

In 2007, Mars, Incorporated established Mars Botanical as a new scientific division to build on its heritage of
scientific leadership and develop new plant-derived products aimed at improving human health. Mars Botanical
believes the field of phytonutrients is still in its infancy and the study of natural plant compounds such as
flavanols holds tremendous promise for the future. The goals of Mars Botanical are to develop bioactive
materials, processing technologies and products supported by evidence-based science like that used in the
development of Cocoapro(r).

(NOTE: For more information on the many research studies on cocoa flavanols, visit www.healthycocoa.com. More
information on Mars Botanical can be found at www.marsbotanical.com.)

Processed Cocoa Loses Two-Thirds of Health-Enhancing Alkaloids
By: David Gutierrez
September 24, 2008
(NaturalNews) A common process used to make cocoa more easy to digest and to mix into other foods
eliminates approximately two-thirds of the flavanols originally contained in the plant, according to research
published in the Journal of Agricultural and Food Chemistry.

Cocoa has attracted increasing attention recently as a health-enhancing food, with studies finding that the high
flavanol content has benefits in preventing cardiovascular disease. In response, the chocolate industry has
poured large amounts of money into obtaining further evidence of these benefits.




                COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,                            8
                    P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
                           Email: econs@copal-cpa.org Website: www.copal-cpa.org
Dark chocolate has a much higher flavanol content than milk chocolate, and many chocolate products are now
prominently labeled for their high cocoa content. Because the high sugar and fat content of chocolate bars can
introduce other health problems, outweighing any benefits from the flavanols, a number of cocoa-powder based
products have also hit the market in recent years.

Researchers analyzed the flavanoid content of 10 batches of cocoa powder for both flavanols (quercetin,
quercetin-3-glucuronide, quercetin-3-glucoside and quercetin-3-arabinoside) and monomeric flavanols
(epicatechin and catechin). They then submitted all 10 batches to alkalization, a process that is a common part of
the cocoa product manufacturing process. They found that the overall flavanoid content of the cocoa was
reduced 60 percent by the process. The highest loss among the monomeric flavanols was in epicatechin, with a
67 percent reduction. Among the flavanols, the highest loss came from quercetin, with a striking 86 percent
drop.

The levels of flavanoids found in the cocoa powder after processing were comparable to those found in several
major brand cocoa powder products available in Spain. "The large decrease found in the flavonoid content of
natural cocoa powder, together with the observed change in the monomeric flavanol profile that results from the
alkalization treatment, could affect the antioxidant properties and the polyphenol bioavailability of cocoa
powder products," the researchers wrote.

Chocolate helps heart stay healthy
(China Daily)
2008-09-24
                                               A small square of dark chocolate daily protects the heart from
                                               inflammation and subsequent heart disease, a new study of
                                               Italians suggests. Milk chocolate might not do the job. However,
                                               this guilty pleasure has a limit.
                                                A prototype package and finished dark chocolate is shown atop
                                               cacao beans at the new TCHO chocolate factory in San
                                               Francisco, Calif., August 25, 2008. [Agencies]

                                                Specifically, only 6.7 grams of chocolate per day (or 0.23
                                                ounces) represents the ideal amount, according to results from
                                                the Moli-sani Project, one of the largest health studies ever
                                                conducted in Europe. For comparison, a standard-sized
                                                Hershey's kiss is about 4.5 grams (though they are not made of
dark chocolate) and one Hershey's dark chocolate bar is about 41 grams (so a recommendation might be one of
those weekly).
Chronic inflammation of tissues in the circulatory system is a risk factor for cardiovascular disease, such as
myocardial infarction or stroke. So doctors strive to keep patients' inflammation under control. One marker for
inflammation in the blood is called C-reactive protein.

The researchers found a relationship between dark chocolate intake and levels of this protein in the blood of
4,849 subjects in good health and free of risk factors (such as high cholesterol or blood pressure, and other
parameters). The findings are detailed in the latest issue of the Journal of Nutrition. "We started from the
hypothesis that high amounts of antioxidants contained in the cocoa seeds, in particular flavonoids and other
kinds of polyphenols, might have beneficial effects on the inflammatory state," said Romina di Giuseppe, lead
author of the study. "Our results have been absolutely encouraging: People having moderate amounts of dark
chocolate regularly have significantly lower levels of C-reactive protein in their blood. In other words, their
inflammatory state is considerably reduced." The inflammation reduction that the researchers observed
controlled for other confounding variables such as wine or produce intake.

Previous studies have found that chocolate might be good for you, though doctors usually warn that it is more
important to focus on one's overall diet when it comes to health. One health study found that blood platelets
among chocolate-lovers were less likely to clot together in dangerous clumps. Other studies have found a host of
diet and exercise changes that can help a person beat the odds of death. Clearly, no single change is a guarantee
of long life.




               COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,                            9
                   P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
                          Email: econs@copal-cpa.org Website: www.copal-cpa.org
With chocolate, moderation is key, the new study found. "The best effect is obtained by consuming an average
amount of 6.7 grams of chocolate per day, corresponding to a small square of chocolate twice or three times a
week. Beyond these amounts the beneficial effect tends to disappear," di Giuseppe said.

The milk in milk chocolate interferes with polyphenols, so the team kept that out of the study. "We consider this
outcome as the beginning of a large series of data which will give us an innovative view on how [to achieve]
prevention in everyday life, both against cardiovascular disease and tumors," said Licia Iacoviello, head of the
Laboratory of Genetic and Environmental Epidemiology at the Catholic University of Campobasso and
responsible for the Moli-sani Project.

Chocolate and heart disease
NHS Choices, UK –
26 Sep 2008
A study has found that ―a nibble of dark chocolate a day could help prevent killer heart attacks‖, reported the
Daily Express. It said that eating just a quarter of an ounce, about a third of a small bar, could cut the risk of
heart disease by 25% in men and a third in women. The study, in nearly 5,000 people, showed that eating dark
chocolate ―dramatically slowed the hardening of arteries, which is a major cause of heart attacks‖.

Despite what was reported in the news, this study did not directly assess whether chocolate can prevent heart
attacks or slow the hardening of arteries. Instead it assessed the link between eating dark chocolate and levels of
C-reactive protein (CRP) in the blood. High levels of CRP indicate inflammation and has been independently
linked with an increased risk of cardiovascular disease. Although the study found that these markers were lower
in chocolate eaters, the study design is of a type that cannot establish that chocolate caused the reduction in CRP
levels. Until more robust studies are carried out, a healthy diet and regular exercise are still the best way to
reduce the risk of cardiovascular disease.

Where did the story come from?
Dr Romina di Guiseppe and colleagues from the Catholic University and the National Cancer Institute in Italy
carried out this study. The research was funded by Pfizer, the Italian Ministry of University and Research and
the Instrumentation Laboratory. The study was published in the (peer-reviewed) medical journal: the Journal of
Nutrition.

What kind of scientific study was this?
Dark chocolate contains high levels of flavonoids, which are antioxidants and are thought to potentially lower
the risk of cardiovascular disease. In this cross-sectional study, the researchers looked at dark chocolate
consumption and if it had any effect on levels of CRP in the blood. CRP indicates inflammation and is thought
to be an independent indicator of risk for coronary heart disease.

This study included people who were participating in a larger prospective study called the Moli-sani Project.
These participants were aged over 35 and randomly selected from towns in Italy. Those who were eligible (not
pregnant and willing to participate) were interviewed and asked about their socioeconomic status, physical
activity, medical history, risk factors (including smoking), history of cardio vascular disease, tumours and drug
use. Dietary habits were recorded using a food frequency questionnaire that assessed their food intake and the
daily amounts of different foodstuffs they had eaten over the past 12 months. The questionnaire also had
questions about how much chocolate they ate, how frequently they ate it (daily, weekly, monthly), and the type
of chocolate (dark, milk, nut, or any). Trained personnel measured blood pressure and height, weight and waist
circumference. Blood samples were taken after the participants had fasted overnight and at least six hours after
they had smoked, and the level of CRP in the blood was measured. Following this, the researchers excluded
anyone with CVD, were currently being treated for hypertension, diabetes or dyslipidemia, had a special diet or
had missing information.

The researchers then compared blood concentration levels of CRP in people who ate dark chocolate with those
who did not. In total 4,849 people were available for analysis. Of these 1,317 did not eat any chocolate, 824 ate
dark chocolate only and the others ate milk or ‗any‘ chocolate (2,708 people). Their analyses took into account
other factors that could influence the link (confounders), including age, sex, social status, physical activity,
nutrient intake and other food intake. Only the consumption or non-consumption of dark chocolate was
analysed, and the researchers did not look at the effect of milk chocolate, other chocolate intake or the effect in
people who ate both milk and dark chocolate.



                COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,                            10
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                           Email: econs@copal-cpa.org Website: www.copal-cpa.org
What were the results of the study?
The researchers found there to be significantly greater proportion of people with high CRP levels (>3mg/L) in
the group that did not consume dark chocolate compared with the group who consumed it (19% v 14%). The
inverse relationship between consumption of dark chocolate and levels of CRP was confirmed in all analyses,
which took into account the effects of various confounding factors.

Chocolate consumption did not reduce blood pressure when other factors were taken into account. The
researchers also looked to see whether there was a dose response, i.e. whether increased chocolate doses were
linked to greater benefits. They found that with increased consumption there was an initial decrease in CRP
levels but that the reduction levelled out and even reversed in the highest consumption group.

What interpretations did the researchers draw from these results?
The researchers conclude that regular intake of dark chocolate is inversely related to the concentration of CRP in
the blood. While consumption of dark chocolate is also associated with younger age, higher social status and
lower total physical activity, taking these into account did not remove the effect of the chocolate.

What does the NHS Knowledge Service make of this study?
This cross-sectional study found a link between the consumption of dark chocolate and levels of CRP in the
blood. The findings correspond to those of some other studies so this increases our confidence in the results.

There are some important points:
The study assessed the link between dark chocolate consumption and levels of CRP in the blood. It did not look
for a link between eating chocolate and disease events. The researchers only speculate as to what effect changes
in CRP could have on cardiovascular risk (rates of heart disease or stroke), based on data from another selected
study. They say the difference in CRP levels between consumers of dark chocolate and non-consumers
represents a 26% reduction in cardiovascular disease risk for men and a 33% reduction for women. This
estimate in itself has little to do with heart attacks. People can have cardiovascular disease but not have a heart
attack. The newspaper report may be misleading in that it suggests that dark chocolate is responsible for a 25%
and 33% reduction in heart attacks in men and women respectively
.
Studies of this design (cross-sectional) have shortcomings when exploring causal relationships. It is possible that
‗dark chocolate consumption‘ is linked to another factor which is itself responsible for the effects on CRP, i.e.
that there are possible confounders. The researchers have tried to measure and adjust their analyses for the most
obvious of these – physical activity, age, sex, other dietary factors – but the possibility that an unmeasured
confounder is responsible for the link cannot be ruled out. Although the researchers also collected information
from people who consumed all chocolate types or just milk chocolate, they do not report those results.

Prospective studies, preferably randomised controlled trials, would be a more robust way of determining
whether chocolate is responsible for these reductions in CRP levels. Such studies could also look at actual
disease endpoints, such as heart attack or other cardiovascular events. Until then, these results should be viewed
somewhat cautiously, especially considering that the beneficial effects of chocolate on CRP appeared reversed
at high doses.

There is strong evidence that a healthy balanced diet and regular exercise are linked to lower CRP levels and a
reduced risk of cardiovascular disease. Eating chocolate should not be considered comparable to the health
benefits of these.

Is chocolate really good for the heart?
Times of India, India –
27 Sep 2008

                                        It wasn‘t too long ago that chocolate was considered about as healthy as
                                        a stick of butter. Not anymore.

                                        Chocolate has acquired quite a reputation as a not-so-sinful sweet
                                        indulgence. And though it may seem too good to be true, research does
                                        show that one type of chocolate is rich not only in flavour but also in
                                        protective antioxidants. So is chocolate the new superfood? Not quite.



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But a growing body of evidence suggests chocolate may have more to offer than guilty pleasure.

Tree Treat
Most of us don‘t know that chocolate is a plant-based food. It is made from the seeds of the Theobroma cacao
tree. These seeds, also known as cocoa beans, are exceptionally rich in flavonoids, which are natural
antioxidants thought to help protect against cardiovascular disease. Once harvested, cocoa beans are left to
ferment before being dried, roasted, and processed into the chocolate products we love.
But not all chocolate is created equal. Processing destroys many of the natural flavonoids present in cocoa
beans, and chocolate products that have been alkalised have been almost entirely depleted of their natural
goodness. It‘s only dark chocolate, high in cocoa content that seems beneficial. Not white or milk chocolate.

Healthy Heart
Studies suggest that eating small amounts of dark chocolate may protect cardiovascular health in the following
ways:

Improved endothelial function: Several small-scale studies have shown that dark chocolate may help keep
arteries elastic and blood flowing smoothly by improving the function of the endothelial cells that line our blood
vessels.

Reduced blood pressure: In a recent study involving men and women with high blood pressure, those who ate
3.5 ounces of dark chocolate every day for 15 days experienced a drop in both systolic and diastolic blood
pressure. l Improved cholesterol profile: Evidence suggests that eating a small amount of dark chocolate every
day may increase ―good‖ HDL cholesterol while decreasing ―bad‖ LDL cholesterol.

Chocolate contains three primary fatty acids, one of which, oleic acid, is also found in olive oil. Research
indicates that oleic acid, a heart-healthy monounsaturated fat, may slightly reduce total cholesterol.

The Dark Side
Before you ditch your bowl of fruit for a huge plate of brownies, let‘s do a quick reality check. A small portion
of dark chocolate several times a week can be included as part of a healthy diet. But if you don‘t already eat
chocolate, there‘s no legitimate health reason to start favouring it now. Not only is chocolate loaded with
calories, but it also has far fewer health-boosting vitamins and minerals than fruits and veggies. It also contains
caffeine, something that should be minimised in some people‘s diets. And for some, chocolate may worsen
premenstrual symptoms or trigger migraine headaches.

Although research on the potential health benefits of chocolate reveals promising — if surprising — short-term
results, the need for larger long-term trials still exists before we can truly determine the impact of chocolate
consumption on cardiovascular health.

For a healthy heart, your best bet is to eat a balanced diet with lots of fruits and veggies, exercise regularly, and
keep stress levels under control. And every now and then, feel free to treat yourself to a guilt-free piece of rich,
dark chocolate.


Production & Quality

Ivorian 08/09 cocoa season to start on time –chief
Reuters Ghana, Ghana
by Ange Aboa
23 Sep 2008
ABIDJAN, Sept 23 (Reuters) - The upcoming 2008/09 cocoa season in world number one grower Ivory Coast
will begin on time, the president of the newly formed management committee for the sector said on Tuesday.
"We are on time to officially start the season which begins in a few days," said Gilbert Ano N'Guessan, chief of
the panel which replaced the Coffee and Cocoa Bourse and other cocoa management bodies, after a strike at the
BCC and serious disrpution to the administration of the industry. The cocoa season in the West African country
begins each year on Oct. 1.




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Nigerian cocoa exports climb 26 pct in Aug yr-on-yr
Reuters Nigeria, Nigeria
By Tume Ahemba
Thu 25 Sep 2008
LAGOS, Sept 25 (Reuters) - Nigeria's cocoa exports climbed by 26 percent to 4,902 tonnes in August from the
same month of last year, data from the Federal Produce Inspection Service (FPIS) showed on Thursday. The
FPIS is the government agency that certifies cocoa and other farm produce as fit for export mainly to Western
markets, where the beans are used for making chocolate, ice cream, cake, liquor, cosmetics and beverages.
The increase in cocoa exports from the world's number four grower is consistent with the trend since the strong
start of the 2007/08 season in October in Nigeria. Total Nigerian cocoa exports in the 11 months to August rose
by 24 percent to 163,196 tonnes from 131,105 tonnes in the same period of the 2006/07 season, the FPIS data
showed.
The official export figures for the period are 7 percent higher than the 153,000 tonnes which exporters estimated
as Lagos cocoa arrivals for the last 11 months.

Industry experts say the official shipments could be much higher because some exporters do not make full
disclosure of their cargoes at the ports.

A sizeable volume of beans is also smuggled across Nigerian borders by exporters trying to take advantage of
lower port charges in neighbouring countries.

Analysts said the growth in exports was an indication that the government's cocoa revival programme launched
in 2005 to rapidly expand production and encourage local consumption, has recorded some successes. "The
number of cocoa producing states has increased to about 20 from 14 in the last three years, so national output is
bound to rise," said commodity analyst Robo Adhuze. "Production from Taraba state that used to go to
Cameroon because of the distance of bringing it to Calabar or Lagos, is now being retained in Nigeria."

Cameroon, Nigeria's eastern neighbour, is the world's number five cocoa grower.

Nigerian cocoa production peaked at around 400,000 tonnes per year in the 1970s, but the government began to
neglect the industry with the advent of oil and the decline accelerated when the sector was deregulated in 1986.

Following is a monthly breakdown of Nigerian cocoa exports in tonnes as obtained from the FPIS:

                  2007/08           2006/07                             2007/08           2006/07
October           11,104            12,216            November          16,644            15,674
December          33,897            28,522            January           33,905            31,186
February          28,104            20,791            March             9,701             5,480
April             4,533             2,752             May               6,401             2,360
June              7,810             3,989             July              6,204             4,251
August            4,902             3,884

Cocoa production to go up
GNA
Thursday, 25 September 2008

                            The Ghana Cocoa Board (COCOBOD) with the active support of the government is
                            determined to increase the country‘s cocoa production to over one million tones
                            within the shortest possible time, up from the present production of about 740,000
                            tones.

                           The Deputy Eastern Regional Manager of the COCOBOD, Mr Francis Antwi
                           Agyei, said government was therefore giving every encouragement and assistance,
                           including higher producer prices and bonuses, free spraying of cocoa farms and
other incentives to cocoa farmers for increased production. Speaking at a cocoa farmers education rally at
Akyem Boso, Mr Agyei said it was necessary that the battle against swollen shoot disease was won through the
active work of the Swollen Shoot Virus Control Unit (SSVCU) of the COCOBOD.




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He described the swollen shoot as a ―major enemy of the cocoa industry‖, which could, however, be eradicated
by cutting and uprooting all affected trees. He explained that the scientific community had since the discovery
of the disease in 1930 been engaged in finding a cure for it and since none had been found to date, the only
answer is the destruction of trees affected by the disease. Mr Agyei advised farmers who discover diseased trees
on their farms to inform officials of the SSVCU to help remove the trees before they spread to other farms. He
said farmers who allowed their trees to be cut and uprooted would be given cash compensation and assisted to
replant with hybrid cocoa seedlings that would produce after only two years, with additional financial
incentives.

Mr Akwasi Bio-Frimpong, Asamankese District Cocoa officer, urged cocoa farmers to properly maintain their
farms to avoid being attacked by pests and diseases such as the black pod and ―akate‖. He stressed the need for
farmers to clear their farms of weeds as well as spray it twice, to supplement government‘s spraying exercise.
Mr Bio-Frimpong said the new producer price of cocoa should encourage farmers to give special attention to
their farms. Mr Atta Asiedu, Chief Technical Assistant, appealed to cocoa farmers to give their children the best
education and refrain from using them as labourers.

Ghana 08/09 early cocoa crop has slow start –buyers
Reuters Ghana, Ghana
By Kwasi Kpodo
24 Sep 2008
ACCRA, Sept 24 (Reuters) - Ghana's early-opening 2008/09 cocoa season has made a slow start, buyers said on
Wednesday, and some complained they had not yet received purchasing funds and jute sacks from the Ghana
Cocoa Board (Cocobod).

The government rushed to open the new season on Sept 12, several weeks earlier than normal, in a move to try
to counter a surge in smuggling of Ghanaian beans across the border to Ivory Coast, where buyers had offered
comparatively higher prices.

The new season in the world's No. 2 cocoa producer started only a week after the closure of the preceding light
crop, a break with past practice where an average three weeks' break was allowed between seasons to enable key
players to prepare.

Buyers said that many unlicensed buying companies, and even Cocobod itself, appeared to have been caught
unprepared by the rushed start to the new season. "Although we are more than two weeks into the new season,
some of us are yet to receive our purchasing funds and jute sack supplies from the Cocobod," a leading buyer,
who asked not to be named, told Reuters in Accra.

He said his company was forced to take out loans from the bank and other sources at much higher costs. "The
funds from Cocobod have been delayed and we've had to borrow money at the bank where the interest rates are
as high as 27 percent per annum, in order to start off the season," he said.

Another buyer told Reuters: "We normally clean up and disinfect our warehouses in readiness for the main crop,
but this time around we did not have time on hand to do that".

SEEN PICKING UP
At the beginning of every crop year, Cocobod mobilises a syndicated loan from international banks to finance
crop purchases. It signed a $1 billion loan this month, but buyers say the new season opened before the funds
became available.

Although Cocobod has yet to release details of the maiden week purchases of the just started new main crop,
buyers said the harvest had kicked off very sluggishly. "The first week has been very slow. It is nowhere near
what we had (in the first week of) last year," the first buyer said. Declared purchases in the maiden week of last
year's main crop totalled more than 12,000 tonnes.

A senior Cocobod official told Reuters this slow start had been expected. "We were not expecting a boom in
purchases in the early weeks as we had last year, because the timings, as well as the factors, have changed," the
official said. He added the harvest should pick up next month. "We are looking forward to the period from the
middle of October when we expect to see high volumes of cocoa being declared," he said.



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Cocobod has forecast it will buy 650,000 tonnes of cocoa in the 2008/09 season, down from more than 680,000
tonnes in the previous crop year. Ghana has set itself an ambitious target to harvest at least one million tonnes of
cocoa a year by 2010, mainly through increased use of fertiliser and adoption of high yielding seeds, combined
with improved farming methods.

Farmers advised to produce quality cocoa
Modern Ghana, Ghana –
25 Sep 2008
An official of Ghana COCOABOD has appealed to farmers in the Birim Central Municipality to step up
production of quality cocoa beans to sustain the country's leadership in the production of top class beans.

Mr. Kwadwo Kyei, Principal Quality Control Officer (QCD) of the Akim Oda Cocoa District of the
COCOBOD, told the GNA in an interview that this could be achieved through proper harvesting, fermentation
and drying of the cocoa beans. He said the Quality Control Division of COCOBOD was strengthening its
structures and processes to sustain the partnership between the QCD and its working cocoa partners, especially
the Licensed Buying Companies (LBCs) in the country.

Mr. Kyei said purple coloration of the cocoa beans was not a disease but was as a result of the inadequate
fermentation of the beans. ―The beans need between six and seven days and two turnings with reasonable heap
size, coupled with good cover to be properly fermented.‖ He advised cocoa farmers to use traditional methods of
fermentation that saw the country producing quality cocoa for export. Mr. Kyei urged farmers to take advantage
of the free spraying exercise and the Hi-Tech Project to maximise their yield per hectare.


Processing and Manufacturing

Nigerian Cocoa Grinder targets 60,000 ton Capacity
Source: Reuters
23/09/2008
Lagos, Sept 23 - Nigeria's top cocoa grinder plans to expand its capacity to 60,000 tonnes per annum in the next
12 months after raising about 4 billion naira ($34 million) from a private placement, its chief executive said on
Monday.

The move follows the completion earlier this month of a long-delayed upgrade of the plant to 17,500 tonnes
from around 10,000 tonnes, Multi-Trex Ltd managing director Yusuf Isiaka told Reuters in an interview. "We
are now raising installed capacity to 60,000 tonnes. New machinery will start coming in at the end of October
through to February. The expansion will last 12 months," Isiaka said.

The company had planned to increase capacity to 18,000 tonnes in 2006, but the expansion was delayed after it
failed to raise around 500 million naira it then needed. Multi-Trex had sought to raise 6 billion naira through a
private placement that closed on July 7. The operation was only about 70 percent successful, but Isiaka said the
firm would still raise the balance. "There is nothing to worry about because we have secured enough guarantees
and commitments to achieve our target of 6 billion naira," Isiaka said. The company plans to list on the Nigerian
Stock Exchange before the end of the year.

POWER CRISIS
Multi-Trex, which started production in 2005, operated at about 70 percent of its capacity until this month's
upgrade due largely to a power crisis that has all but hobbled industry in Africa's top oil producer. "Each time
we had a problem or needed to service the generators, we had to shut down for days, this affected our capacity
utilisation," Isiaka said.

Part of the cash from the private placement would be used to help ease the power problems at the plant, which
processes cocoa into butter, cake, powder and liquor for export mainly to Europe. Multi-Trex also plans to
convert solids to consumer products for markets in Asia, the United States, South Africa and West Africa, and to
produce its own brands of cocoa beverages. The plant is located near the commercial city of Lagos.

Nigeria, the world's number four cocoa grower, launched an ambitious cocoa revival programme three years ago
to boost output, local processing and consumption, but incentives from the government often come late.



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"Government incentives, whether physical or monetary, have not been timely, so we have had to borrow at a
high cost from time to time," Isiaka said.

Nigeria's installed grinding capacity stands at about 100,000 tonnes a year. Around 40 percent of this is
working, processing roughly 25 percent of national cocoa output. Some moribund plants are being revamped
and local processing is seen climbing rapidly over the next year.

Mars Snackfood US launches Dove Chocolate Discoveries
By Staff Writer - Food Business Review –
26 Sep 2008
Mars Snackfood US has launched Dove Chocolate Discoveries, the company's new venture into direct selling.
Dove Chocolate Discoveries provides an opportunity to start an at-home chocolate business, beginning with
hosting chocolate parties, selling exclusive Dove Chocolate Discoveries products and developing a network of
chocolatiers.

To introduce Dove Chocolate Discoveries, a new website has been developed that celebrates the business of
chocolate for both current and potential chocolatiers. The website connects consumers to their local Dove
Chocolate Discoveries chocolatier and shares information on product offerings and on how to get involved with
the program.

According to the company, the website was created to support Dove Chocolate Discoveries's recruiting efforts
and offer information on the exclusive line of Dove Chocolate Discoveries products, including Chocolate
Mousse Mix, Chocolate-Covered Almonds and Cranberries, Truffle Fudge Brownie Mix, Chocolate Making
Kits, and a variety of chocolate beverages.

Betty Palm, president of Dove Chocolate Discoveries, said: "Dove Chocolate Discoveries is a great opportunity
for women and men who want to start their own at-home business and teach friends and family how to create
'wow' desserts with ease, discover new ways to enjoy chocolate and learn about its origin."


Business & Economy
Indonesia Scraps Import Duty for Cocoa, Steel, Key Industries
Source: Reuters
23/09/2008
Jakarta, Sept 23 - Indonesia will scrap import duties for some raw materials, including steel and cocoa beans, to
help local industries cope with increasing costs due to higher fuel and commodity prices, the Industry Minister
said on Tuesday.

The government will pay the import duties for 10 industries, including iron and steel, cocoa-processing,
automotive, dairy products, power plant contractors, electronics, and shipyards, Fahmi Idris said. "Rising fuel
prices have increased production costs, which in turn has greatly affected industry output," Idris told reporters.
"The fiscal incentive is intended to keep the industry running," he added.

Prices of commodities rallied earlier this year but have since fallen back.

Crude oil hit a record of $147.27 a barrel in July, although it started to lose ground in August as high prices
started to crimp demand, particularly for oil which is now at $107.53 a barrel.

Raw materials that will no longer be subject to import duty include hot-rolled coil steel coil, used in the
construction and ship-building industries. The import duty is currently between 7.5-12.5 percent. The
government will allocate 2 trillion rupiah ($215 million) this year and 2.5 trillion rupiah in 2009 for the fiscal
incentive program, said Anggito Abimanyu, head of fiscal policy analysis at the finance ministry.




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Ivorian cocoa prices rise as sector reforms begin
By Loucoumane Coulibaly
ABIDJAN, Sept 23 (Reuters) - Cocoa farm-gate prices in Ivory Coast's main growing areas rose during the last
week as many buyers came to the market and cocoa workers returned to their offices after a strike, farmers and
buyers said on Tuesday.

A new management committee whose job is to oversee the sector, a crucial part of the economy in the world's
top cocoa grower, began work on Tuesday. It replaced the Coffee and Cocoa Bourse (BCC) and other
administrative organs, which have been disbanded as part of wider reform of the industry in the wake of an
investigation into corruption.

Shippers gave the new body a cautious welcome, but were uncertain about how it would work in practice.
"Exporters are looking to stock up on cocoa because they don't know whether there will be problems which
might block purchases at the start of the season, said Francois Badiel, a cooperative manager in the western
region of Gagnoa.

Prices there were well above 400 CFA francs ($0.894) per kg, compared with 300-350 CFA francs two weeks
ago, farmers said. Benchmark U.S. cocoa futures <CCZ8> closed at $2,762 per tonne on Monday, up more than
$150 from the previous week.

STRIKE OVER
For the seventh consecutive week, official price data was not available, but a trade union leader told Reuters that
employees of what was the BCC, who had been striking over unpaid salaries, have returned to their posts. "We
have called upon all the workers to restart work today," said Jeannot Koffi Kouadio, deputy general secretary of
the cocoa workers union.

In Meagui, also in the west, farmers said the average price has jumped to between 400-425 CFA francs
compared with 300 CFA francs the previous week, as many buyers were looking for beans to meet demand from
exporters. "Prices have risen rapidly," said farmer Innocent Zamble, whose farm is near Meagui. "Merchants are
saying that exporters are pressing them to get hold of a lot of cocoa quickly," he said.

In Daloa, which produces a quarter of Ivory Coast's national output, farmers said the average price has jumped
to at least 400 CFA francs per kg, compared with 300 the previous week as quality improves. "There has been
lots of sunshine and farmers have been able to dry the beans," said farmer Marcel Aka.

CAMPCO to buy cocoa beans from AP
Hindu, India – Staff Reporter
24 Sep 2008
Company has earned a profit of Rs. 3.52 crore in 2007-08‘
--------------------------------------------------------------------------------
Cocoa production in AP is 2,500 tonnes a year
Annually, India produces 10,000 tonnes of this crop
--------------------------------------------------------------------------------
MANGALORE: The Government of Andhra Pradesh has requested the Mangalore-based Central Arecanut and
Cocoa Marketing and Processing Cooperative Ltd (CAMPCO) to procure cocoa beans from the farmers of that
state. The organisation is seriously considering this request, according to its president S.R. Rangamurthy.

This is viewed as a welcome development since the company has just wiped out a huge loss accumulated since
1990-2000 and earned a net profit of Rs. 3.52 crore in 2007-08.

Addressing presspersons here on Monday, Mr. Rangamurthy said that Andhra Pradesh produced 2,500 tonnes
cocoa, annually. It was mainly grown in West Godavari and Nellore districts. Farmers in Krishna district had
turned to this crop recently. ―We are drawing plans to start procuring cocoa beans from there,‖ he said.

Mr. Rangamurthy said that the CAMPCO had plans to start procuring rubber from farmers in Karnataka and
Kerala.

An amendment to the bylaw of the cooperative to this effect had been approved at the general body meeting
held on September 20. Steps would be initiated to obtain permission from the Rubber Board, he said.


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New plant
The company proposed to install a new plant exclusively to produce chocolate chips, an ingredient in ice cream.
The demand for this product was increasing by the year and the company‘s plant at Puttur in Dakshina Kannada
was not able to meet the demand. Plans were afoot to utilise the entire capacity of the Puttur unit by next year.
Only 80 per cent of it was being utilised till now, he said.

Profit
Mr. Rangamurthy said that the company earned a net profit of Rs. 3.52 crore last year after wiping out all the
accumulated losses. He attributed this change over to factors such as stability in the prices of areca nut in the
past two years, increase in volume of business, cost control measures and better marketing strategy.

The Indian industry needed about 30,000 tonnes a year vis-À-vis the average annual production of 10,000
tonnes. The world production of cocoa was about 38 lakh tonnes a year. Suggesting the over one lakh members
of the company to start growing more cocoa, he said: ―It is a lucrative venture as there is a wide gap between
production and demand.‖ ―The share capital of CAMPCO is Rs. 16 crore. We returned the shares of Karnataka
and Kerala governments worth Rs. 4.65 crore in 2005,‖ he added.

LBCs warned against buying fresh cocoa beans
Modern Ghana, Ghana –
25 Sep 2008
An official of Ghana COCOBOD has appealed to Licensed Buying Companies (LBC) to desist from buying
fresh cocoa beans and that they would be sanctioned when caught.

Mr. Kwadwo Kyei, Principal Quality Control Officer of the COCOBOD of the Akim Oda Cocoa District, told
the GNA that some purchasing clerks from LBCs used buckets to measure the fresh beans with a view to
cheating them.
―Some of the clerks, mostly those operating in the smaller towns and villages, use hanging scales that have been
banned instead of the approved platform scales to weigh the beans.‖

Mr. Kyei said this was an attempt by the clerks to cheat farmers and that "by their actions they violate one
cardinal principle that regulates the cocoa industry." He described the practice as detrimental to the cocoa sector
and that if the practice was encouraged it could affect the quality of the cocoa beans. Mr Kyei urged purchasing
clerks to educate farmers on the need to ferment the cocoa beans for six days before drying.

First United States Barry Callebaut Chocolate Academy Opens in Chicago
CHICAGO,
Sep 25, 2008 (BUSINESS WIRE)
Barry Callebaut CEO, Patrick De Maeseneire, and the company's team of Technical Advisors opened the doors
to the first United States Chocolate Academy yesterday with an official ribbon cutting and celebration of the
company's brands and products. "It is a great pleasure for me to be here with you today in Chicago to open the
12th Barry Callebaut Chocolate Academy," stated De Maeseneire in his welcome speech. "In addition to our 40
factories across the globe, this Academy makes Barry Callebaut the only chocolate company with a presence on
all continents."

Rita Athas, executive director of World Business Chicago, read an official proclamation from Richard M.
Daley, Mayor of the City of Chicago, who was unable to attend the event. "Chicago is internationally renowned
for its culinary excellence and we are proud that Barry Callebaut has chosen our city for its first U.S. Chocolate
Academy. We look forward to showcasing our extraordinarily talented professionals, business climate and
quality of life to the Academy's students and staff."

Courses begin in October at the Academy, each with the goal of inspiring artisans, pastry chefs, confectioners,
bakers and caterers from around the globe to share their passion for fine chocolate, improve their skills and
techniques and learn about the latest chocolate-making trends. "We are pleased to welcome Barry Callebaut, and
its first U.S. Chocolate Academy to our distinguished list of international companies that call Chicago home,"
said Athas. "We look forward to welcoming culinary professionals from around the world with Chicago's
dynamic spirit, and to engaging Barry Callebaut in our international business community."




                COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,                            18
                    P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
                           Email: econs@copal-cpa.org Website: www.copal-cpa.org
The Barry Callebaut Chocolate Academy offers a diverse range of seminars, demonstrations, theoretical courses
and practical workshops, focusing on creativity, innovation and proficiency. New and innovative courses are
offered, as well as foundational programs for those new to chocolate. The experienced North American Barry
Callebaut Technical Advisor Team leads the Academy teaching staff, which regularly includes members of the
Barry Callebaut Chocolate Ambassadors Club. This club is comprised of approximately 70 Ambassadors from
around the world who represent the company brands of Callebaut, Cacao Barry and Carma at trade fairs,
demonstrations, shows, exhibitions and other events throughout the year. The Ambassadors assist with customer
training and also help the company test and develop new products and recipes.

To obtain the 2008-2009 Barry Callebaut United States Chocolate Academy course catalog and to register for
classes, email chocolate_academy_usa@barry-callebaut.com or call 1-866-443-0460.

Cacao and Coffee Farmers Co-op formed in Punta Gorda
San Pedro Sun, Belize –
25 Sep 2008
Press Release – San Pedro, Belize – September 16th, 2008 – J Squared Caribbean Limited announces a number
of new investment areas in Punta Gorda, Belize.




Mr. Jensen meets with Juan Cho of the Sustainable
Harvest program.

James Jensen, major shareholder and owner of the Liquor Box in San Pedro states, ―PG has a wealth of
untapped agriculture products that are in need of strong packaging and marketing opportunities. Last year the
majority of the coffee harvest was not even picked due to the lack of available markets. There is a clear need for
assisting and organizing these resources and we are pleased to be a part of doing so.‖

The Co-op is a complete partnership with fully committed investment dollars already put in place. Juan Cho,
who heads the Sustainable Harvest program (www.sustainableharvest.org) on behalf of SHI in Punta Gorda, is
playing a key roll in the overall program. Jensen states, ―First, we have a partnership with Juan Cho in his
chocolate processing operation and in turn we have a partnership with the farmers through Juan. As a grower
himself, and a leader of the organic farming movement in Punta Gorda, Juan needed financial support to expand
his chocolate operation. J Squared Caribbean Limited has accomplished this by funding a new facility.
Completion is slated for November 2008. The new facility will process chocolate, offer guided tours of the
family cacao farm and host a restaurant featuring local food.‖

The next level of investment comes in a joint venture between Jensen, Cho and Rose. Vince and Cherie Rose,
long time residents of Belize and founders of the American Crocodile Education Sanctuary in PG, will be
opening a branch of the San Pedro Liquor Box in downtown Punta Gorda, offering the same outstanding service
and products. Inside the Liquor Box building will be located the new C&C Farmers Co-op for cacao and coffee
processing and distribution. Future growth of the facility includes access to an additional 20 acres for further
development.

The goal of the Co-op is to bridge the gap between the traditional small farmers and the market by serving as a
gateway through which the high quality products produced can be transcended from a raw graded state into a
finished consumer product ready to market. The Co-op has already received support from some 900 farmers in
the Toledo District and several facilities in Belize where coffee roasters have came forth to work with us. ―The
support is overwhelming,‖ states Jensen.

While the primary products are chocolate and coffee, other related commodities made available will include a
full line of spices and Vanilla. The logo and brand packaging shall be clear that these products are fair trade
certified with the farmers and growers, are 100% organic and represent Belize traditional history. For more


                  COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,                         19
                      P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
                             Email: econs@copal-cpa.org Website: www.copal-cpa.org
information please contact Juan Cho at juan@theorganicchocolatemaster.com 663-9632 or Jim Jensen at
jim@liquorboxonline.com 626-7331.




Promotion
Cocoa Festival launched at Akuapem-Mampong
Ghana News, Ghana
23 September 2008
Akuapem-Mampong(E/R), Sept. 23, GNA - A health walk was organized from Larteh Junction to the first cocoa
farm established by Tetteh Quarshie at Akuapem-Mampong over 100 years ago to launch the first cocoa
festival.

Participants in the walk were taken through processes of production and drying of cocoa beans and some were
given a guided tour of the first cocoa farm and the Jubilee Cocoa Farm. The participants in the programme later
visited the Museum at the Tetteh Quarshie Cocoa Farm Reception Centre where they were addressed by the
former Minister for Tourism and Diaspora Relations, Mr Jake Obetsebi-Lamptey.

Mr Obetsebi-Lamptey appealed to the chiefs and people of Mampong-Akuapem to support cocoa festival for it
to grow into a major world tourism festival. He said such a small programme could grow into a major tourism
programme that could provide employment and wealth to change the economy of the Akuapem area.

The Akuapem-North District Chief Executive, Mr Edward Adu-Aboagye, said the road between Tetteh
Quarshie Cocoa Farm Junction and Mampong Nkwanta would be completed soon to open up the area for further
development.

The Mankrado of Mampong-Akuapem, Nana Ansah Owora III, appealed to government to support the chiefs
and people of the area to organize the 130th anniversary of Tetteh Quarshie next year.



Labour Issue

Children rescued from child labour in three districts
Joy Online, Ghana
Source: GNA
23 September 2008
Children‘s Rights International, a non-governmental organisation (NGO) in collaboration with the Ministry of
Manpower, Youth and Employment and three district assemblies have rescued 360 children from child labour in
cocoa growing areas. Out of the number, 236 have chosen to go to school with the remaining 124 opting to learn
various trades of their choices.

The children were rescued under the National Programme for Elimination of worst forms of child labour in
cocoa (NPECLC) which is being piloted in Asante Akim District in the Ashanti Region, Kwaebibrem and
Suhum Kraboa Coltar district both in the Eastern Region.

Mr. Bright Appiah, President of Child Rights International (CRI), said this at a ceremony to hand over school
uniforms, foot wear and exercise books to the Asante Akim South District Chief Executive (DCE), Mr. Abdul
Karim Boakye-Yiadom, to be distributed to 90 rescued children in the district at Juaso on Friday.

Mrs. Rita Amankwaah, National Co-ordinator of NPECLE, said a survey conducted by the programme in cocoa
growing areas showed 92 percent school attendance but 54 percent of the pupils could not read and write. She
said the survey also revealed that most teachers engaged pupils in all sorts that affected their academic
performance and called on such teachers to refrain from the practice.




               COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,                         20
                   P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
                          Email: econs@copal-cpa.org Website: www.copal-cpa.org
Mr. Boakye-Yiadom said the assembly had been pivotal in the implementation of the programme in the district
with the institution of a 15-member District Child Protection Committee to steer the programme effectively. He
said workshops and sensitization programmes had been organised for Community Child Protection Committees
in the 10 communities as well as executives of Child Rights Clubs in schools in the district.



Environmental Issues
Ivorian weather helps cocoa but disease fears grow
Reuters Ghana, Ghana
By Loucoumane Coulibaly
22 Sep 2008,
ABIDJAN, Sept 22 (Reuters) - Rains mixed with sunny spells in Ivory Coast's cocoa-growing regions last week
should help crop development, but fears are growing over spreading black pod and swollen shoot disease,
farmers and analysts said on Monday.

Plentiful rains between Monday and Thursday last week followed by hot sunny spells at the weekend have
revived hopes for a good main crop harvest, due to start on Oct. 1. More hot sunny weather could help fight
black pod, a humidity-loving fungal disease, but farmers and analysts reported several pockets of swollen shoot,
a viral disease. Fears of quality problems in the world's top grower and exporter forecasts that black pod will
reduce the coming main crop by 6-8 percent compared to last year have unnerved some traders in international
markets.

Benchmark cocoa futures in New York hit a 28-year high of over $3,000 per tonne in July, but have since fallen
back to around $2,750 <CCZ8>. "There is swollen shoot in one area here, where the trees have been devastated
by the disease. There is a risk it will spread if nothing is done," state agronomist Lassene Traore, in the coastal
region of Sassandra, told Reuters.

Farmers also reported swollen shoot in the Daloa region, and the western areas of Sinfra and Bouafle. Farmers
said the weather in October should give a good indication of the main crop size. They expected more sun and
less frequent rains from now on, which they said would promote pod growth and allow them to dry beans
properly once harvested.

In the centre-western region of Daloa, which produces around a quarter of Ivory Coast's national output, farmers
reported abundant rains mixed with a sunny spells. They said conditions were good for pod development, and
harvesting was already picking up pace in the region. "The weather has been good this past week. We had three
heavy downpours at the beginning of the week and lots of sunshine towards the end," said Attoungbre Kouame,
who farms on the outskirts of Daloa.

An industrial plantation nearby reported about 60 millimetres of rain fell during the week. "There are more and
more pods being harvested in the plantations, and the growth of new leaves and flowers indicates the main crop
will be prolonged and big," Attoungbre said.

An analyst working for an industrial plantation In Soubre, in the west, reported 32 millimetres of rain during the
course of last week, mixed with sunshine. "There was rain, which is good for production, but we also need it to
remain hot with gaps between showers to reduce humidity levels in the plantations and allow good pod
development," the analyst said.

In the western regions of Meagui, Gagnoa and Duekoue, and in the coastal regions of San Pedro and Tabou,
farmers said growing conditions were good with large amounts of beans already leaving the bush for exporters'
warehouses. "I am happy because lots of pods have ripened on my plantation despite the threat of black pod,"
said Innocent Zamble, whose farm is near Meagui. "I think the earth is wet enough for the pods to grow until
January. Lots of beans have already been delivered to the exporters," he said




                COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,                            21
                    P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
                           Email: econs@copal-cpa.org Website: www.copal-cpa.org
Others

Cocoa farmers to get increased payment
radiojamaica.com, Jamaica
22 September 2008
There is good news for cocoa farmers.
Come October one, they will benefit from an increase in the price paid to them by the Cocoa Industry Board
(CIB). Secretary Manager of the Board, Naburn Nelson informed that cocoa farmers would be paid 1460 dollars
per box for wet cocoa, up from 1340 dollars. As is customary, farmers will be paid 1300 dollars for each box
upon delivery and the final payment of 160 dollars per box made at the end of the crop year. He explained that
the increase is based on a number of factors including the impact of Tropical Storm Gustav on the sector, the
fluctuation in production over the years, and the expected production and sales of the commodity.

For the crop year 2007/2008 the organization has set a target of 4000 boxes of the commodity and to date some
3800 boxes have already been acquired. Mr. Nelson said this is about two thousand boxes short of the target. He
said they should get those boxes by the end of this month.

Mr. Nelson further pointed out that the recent passage of Tropical Storm Gustav will have little impact on
achieving the specified target, as cocoa berries were already matured and ready for harvesting.

Ivory Coast Says Disbands BCC, Begins Reform
Source: Reuters
23/09/2008
Abidjan, Sept 22 - World No.1 cocoa grower Ivory Coast has disbanded its Coffee and Cocoa Bourse (BCC)
marketing body and established a committee to manage the sector, pending broader reform, the government said
on Monday.The management committee will start work on Tuesday, a government spokesman told Ivorian
national television.

Earlier this month, the government said it would replace all administrative bodies in its key cocoa sector as it
conducted a wide-ranging overhaul of an industry that has become blighted with strikes and allegations of
corruption. Cocoa is a crucial part of the West African country's economy, representing 20 percent of its gross
domestic product, and has become a hot issue in an election year as prices hover close to 28-year highs on world
markets.

Ivorian President Laurent Gbabgo, who is expected to run for another term, earlier this year launched an
investigation into misuse of money at the BCC, and said there will be jail sentences for those found guilty.

The management committee replacing the BCC will administer the cocoa industry, including registration of
cocoa for export, for an initial period of seven months, which is renewable, the government said on Monday.

"LONG LIVE CAISTAB"
Several positions on the committee will be filled by former directors of Caistab, the state-run body which
controlled the cocoa sector until it was liberalised with the blessing of the World Bank in 2000.

Exporters welcomed the move as a step towards stability. "It's a good decision, the people who will be running it
know the sector well, so logically we should not have problems getting the season underway despite the
management and leadership problems we have had until now," said an executive with an international exporting
company in Abidjan.

Registration of cocoa for export has been disrupted by a strike over unpaid salaries at the BCC, and, with less
than two weeks before the start of the new cocoa season, exporters have expressed concerns they would face
difficulties with shipments. "Caistab is dead, long live Caistab," said the director of another exporting firm. "I'll
wait and see how the new team will manage the new season ... but as they used to work at Caistab, we shouldn't
have a problem."

Anti-corruption campaigners Global Witness said exporters also had work to do to eliminate graft from the
sector. "The Ivorian government's plan ... will not ensure transparency as long as cocoa exporters fail to publish
what they pay the government and its institutions," it said in a statement.


                COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,                              22
                    P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
                           Email: econs@copal-cpa.org Website: www.copal-cpa.org
Ivorian cocoa farmers doubt reforms will help them
By David Lewis
DUEKOUE, Ivory Coast, Sept 24 (Reuters) - Ivory Coast's government is promising a better deal for cocoa
farmers in a major shake-up of the sector, but growers in the bush doubt the reforms can stamp out deep-rooted
graft and mismanagement.

President Laurent Gbagbo's government this week installed an interim cocoa management committee in the
world's No. 1 producer to replace a cluster of sector bodies that have been crippled by strikes, internal power
struggles and corruption scandals.

But, a week before the start of the new 2008/2009 cocoa season, farmers in Ivory Coast's centre-west cocoa belt
said they were not convinced the clean-up would work or improve the benefits they receive from this mainstay
of the Ivorian economy. "They have put new heads in charge, but they will probably just keep on 'eating' the
money like the others," said Alain Kwame, who has an eight-hectare cocoa farm outside Duekoue.

Under pressure from donors to tackle graft and mismanagement in the sector, President Gbagbo last year
ordered investigations into allegations of massive corruption and the authorities arrested around 20 cocoa sector
executives over the summer.

Farmers and anti-poverty campaigners have long complained that much of the money levied from heavy taxes
on cocoa was regularly stolen or diverted instead of being ploughed back into developing the sector and
providing support for farmers. "We work hard but get nothing back. They (the cocoa sector administrators) just
climb to the top and then empty the coffers," said Olivier N'Dakouakou, a farmer watching beans being loaded
onto a truck in Fengelo.

He also complained that assistance for buying fertilisers and pesticides which was also due to be provided by the
previous cocoa sector agencies often never arrived. "Anything that they do send doesn't make it to the bush,"
N'Dakouakou said. The new interim administrators will run the sector until long-promised large-scale reforms
can be carried out.
Ivory Coast is also in the process of trying to organise delayed presidential elections scheduled for Nov. 30,
aimed at ending a political crisis that was triggered by a failed 2002 coup attempt and a brief civil war that
lasted into 2003.

But fresh delays in disarmament and voter identification programmes have made many doubt the polls can be
held on the scheduled date, raising fears of renewed tensions between rebels who control northern Ivory Coast
and Gbagbo's government in the south. A 2007 peace deal has brought the two sides together.

NO PRICE SAFEGUARDS
But, with local political parties and personalities jostling for influence and funds before the election, cocoa
farmers have little faith that the promised reforms will bring real change. "It's not the first time we've heard this
so, no, we don't have confidence," N'Dakouakou said.

Ivory Coast accounts for about 40 percent of world cocoa production and the sector is the pillar of the Ivorian
economy, contributing around 20 percent of its GDP. But while world prices <CCZ8> have traded close to 28-
year highs in 2008, the industry has been bedevilled by chaos and corruption.

Ivorian farmers have complained bitterly that they lost out under a 2000 liberalisation of the sector as they no
longer enjoy price guarantees. They say the higher taxes charged elsewhere along the chain of the cocoa route to
the ports mean they end up receiving lower farmgate prices "If there are going to be reforms, it can't be a bad
thing as the farmers have just got poorer while they (administrators) got richer," said Eugene Ngoran, head of
production at the KAVOKIVA cooperative in Gonate which represents 4,000 farmers. "But if there are more of
the same people, I can't see there being any change. Until they stabilise the price, it wouldn't resolve all these
problems we are experiencing," he added.




                COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,                              23
                    P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
                           Email: econs@copal-cpa.org Website: www.copal-cpa.org
Cocoa farmers say they need regular supply of pesticides
Modern Ghana, Ghana –
 25 Sep 2008
Cocoa farmers at Ebenezer near Anum Apapam have reiterated their call on the government to ensure regular
supply of pesticides for mass cocoa spraying. Mr. Daniel Ohene, a prominent cocoa farmer and a spokesman for
the farmers in the area, told the GNA in an interview that if there was shortage of pesticides the mass cocoa
spraying would be rendered unproductive, he told the GNA in an interview. He said over the past two years
there were lapses in the spraying exercise and this resulted in farmers not reaping good harvests.

Mr. Ohene pledged the farmers' commitment to put in their best to increase yield for the 2008/2009 cocoa
season but this could be achieved if they get support from the government. ―Since cocoa cultivation is the main
occupation of the inhabitants of the area, there is the need for the government to facilitate its development to
improve living standards of the people.‖

International cocoa sector mourns Baah-Wiredu
Joy Online, Ghana –
Source: GNA
27 Sep 2008
                                       The Cocoa Producers‘ Alliance (COPAL) has expressed shock at
                                       the sudden passing away of Finance Minister Kwadwo Baah-
                                       Wiredu last Wednesday, saying it is a great loss to Ghana and the
                                       cocoa sector. ―It was with great shock that I learned of the sudden
                                       death of Honourable Minister of Finance and Economic Planning,
                                       Mr Kwadwo Baah-Wiredu, I honestly do not know what to say,‖
                                       COPAL Secretary-General Hope Sona Ebai said in a statement.

                                           He described Mr Baah-Wiredu as ―a great son of Ghana and a great
                                           champion of cocoa and sort of a cocoa farmer.‖ ―It is my personal
                                           loss. I have not had the kind of access to any Minister in charge of
                                           cocoa in any member State of COPAL as he gave me; a true brother
                                           and a friend,‖ he added.

COPAL is an intergovernmental organization instituted in January 1962 by representatives of the governments
of five cocoa producing countries at a meeting in Abidjan, Côte d'Ivoire. It currently has ten member countries,
namely, Brazil, Cameroon, Côte d'Ivoire, Dominican Republic, Gabon, Ghana, Malaysia, Nigeria, Sao Tome
and Principe and Togo. The member countries of the Alliance account for approximately 75 percent of total
world cocoa production. By his position as Finance Minister, Mr Baah-Wiredu had oversight responsibility for
the cocoa sector.
In a related tribute, the Federation of Cocoa Commerce (FCC) Limited also expressed sympathies at Mr Baah-
Wiredu‘s death. ―I was very shocked to read the passing of your Finance Minister. We extend our deepest
sympathy on behalf of the FCC Council and our membership to his family and to his colleagues within the
Ministry which has such a close connection with cocoa in Ghana,‖ wrote Mr Philip M. Singley, Chief Executive
of the Federation. The FCC recalled a meeting it held with Mr Baah-Wiredu in London in January this year,
saying they discussed cocoa and energy matters, ―and he was a tremendously nice man.‖

Mr Baah-Wiredu, 56, died in a South African hospital after a short illness, a statement from the presidency said
last Wednesday. He assumed the Finance portfolio in 2005 after previously serving as Minister of Local
Government and Rural Development, and Minister of Education, Youth and Sports.




               COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,                          24
                   P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
                          Email: econs@copal-cpa.org Website: www.copal-cpa.org
TIT BITS
(Source: Business Recorder – www.brecorder.com)

Soft commodities little changed in London
LONDON (September 26, 2008): Soft commodity futures were little changed on Thursday in light volume with
participants sidelined eyeing progress of a US bailout plan for financial markets. In the sugar market, traders
focused on expiry of the October contract on September 30.

London sugar, cocoa rise
LONDON (September 27, 2008): Sugar and cocoa futures rose in light volumes on Friday, with attention firmly
focused on the stalling of a proposed $700-billion bailout of the US financial system. Robusta coffee futures
traded weaker, in the middle of their recent range.

US MIDDAY: coffee down, cocoa up
NEW YORK (September 27, 2008): Arabica coffee futures lost some ground early Friday while cocoa held a
steadier tone, as both markets continued to trade in a band of consolidation, traders said. Arabica coffee for
December delivery was down 2.30 cents or 1.67 percent at $1.3530 per lb by 9:32 am EDT (1332 GMT),
dealing between $1.3475 and $1.3765.

Ivorian rains mean slow start for cocoa
GUIPIRY (September 27, 2008): Ivory Coast's new cocoa season, which begins on October 1, will start slowly
as heavy rain brings disease, farmers in the centre-west cocoa belt said on Friday. Humidity and lack of
pesticides mean that black pod disease has hit some farmers hard, adding to uncertainties about the size of the
next crop and how exports will be administered, as the 2008-09 season begins in the world's biggest grower.

World commodity prices respond to US bailout plan
LONDON (September 28, 2008): Commodity traders from across the globe largely took their cues last week
from movement over an emergency US bailout plan.

Ivory Coast cocoa arrivals up
ABIDJAN (September 28, 2008): cocoa arrivals at ports in world top grower Ivory Coast reached 1,337,237
tonnes by September 21, up from 1,265,789 tonnes in the same period a year ago, according to data from
exporters obtained by Reuters on Friday. The figures showed 10,933 tonnes of beans arrived at the ports of
Abidjan and San Pedro between September 15 and 21, down from 24,075 tonnes in the same week of the
2006/2007 season, but up from last week's level.




                 COCOA PRODUCERS’ ALLIANCE, NATIONAL ASSEMBLY COMPLEX TAFAWA BALEWA SQUARE,                       25
                     P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234(0)1-263-5574 FAX: +234(0)1-263-5684
                            Email: econs@copal-cpa.org Website: www.copal-cpa.org

				
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