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					                         COPAL COCOA Info
                             A Weekly Newsletter of Cocoa Producers' Alliance
                  Issue No. 355                                                  28th September - 2nd October 2009
In-House Cocoa Newsletter
 Cocoa Producers' Alliance

                                  UP-COMING EVENTS                                           IN THIS ISSUE
                                                                                             INSIDE THIS ISSE:

                                                                                       ICCO DAILY COCOA PRICES
                   16th International Cocoa Research Conference, Hyatt Hotel,
                                                                                       LONDON (LIFFE) FUTURES MARKET
                    Nusa Dua, Denpasar, Bali – Indonesia, 16 – 21 November,
                                                                                       NEW YORK (ICE) FUTURES MARKET
                                                                                       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                                   Business & Economy
 What chocolates may bring                              COCOBOD Grabs $1.2bn
 Cacao the Healthy Bean with a Long History »           CEPS calls for logistics to fight cocoa
 Do The Math, Thanks to Chocolate                          smuggling
 Chocolate Reduces Inflammation and Improves            EPA negotiations in limbo – Daramy
    Heart Health                                         Cameroon: Need for Synergy to Consolidate
Production and Quality                                   Gov't Will Improve Cocoa Sector – President
 Cocoa AIDS shrinks Cote d’Ivoire output                   Mills
 Cameroon: Overhauling Channels of Cocoa                Chocolate industry plans for merge
    Production                                           African Markets - Factors to watch on Oct 2
 Ivorian 09/10 Cocoa Crop Seen Down at 1 Mln-1.5
    Mln T                                               Research & Development
 Nigeria 09/10 cocoa crop seen big, buyers lack cash    Another Point for Chocolate
 Ivory Coast Starts Cocoa Tree Replacement Program      Candy, Chocolate in Kids Makes for Violent
    for Next Year                                           Adults, Study Says
 Ivory Coast seeks cocoa boost, expectations low
 Cocoa farmers cry out for help                        Promotion & Consumption
 Ondo bans storage of cocoa from Osun, Edo              Free Divine chocolate with Marie Claire
                                                         Chocolate Week London Event
The Market                                               Cheap flights to Paris may attract chocolate
 Natural Gas Rises 5.6% Despite Record Supply             lovers
 SOFTS-Commodities' retreat deflates sugar and
    cocoa                                               Others
                                                         How to make Chocolate »
Processing & Manufacturing                               Tourists Visit Tetteh Quarshie Cocoa Farm
 Worst cocoa shortage for 40 years fuels chocolate        Over 160,000 to Benefit from World Cocoa
    price rise in UK                                        Foundation Youth Education Program in West
 Nigeria FTN Cocoa grinder H1 profit rises 1.6 pct         Africa

ICCO Daily Cocoa Prices
                       ICCO daily price     ICCO daily price     London futures      New York futures
                         (SDR/tonne)          ($US/tonne)           (£/tonne)          ($US/tonne)

  28th September           2016.86              3188.05              2064.67             3091.00

  29th September           2008.49              3168.52              2052.00             3070.67

  30th September           2060.88               3265.2              2101.00             3169.33

    1st October            2032.85              3206.35              2070.67             3111.33
    2nd October
                           1965.64              3099.83              2008.00             3012.67

     Average               2,016.94             3,185.59             2,059.27            3,091.00

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

Monday           28th September            2009
Month                Opening Trans            Settle       Change         High      Daily Low    Volume
Dec-09                   2048                 2049           14           2066        2029        2,900
Mar-09                   2069                 2064           14           2080        2043        1,163
May-09                   2060                 2081           15           2097        2060         537
Jul-09                   2017                 2027           8            2041        2017         135
Sep-09                   2016                 2013           2            2019       2010S          69
Dec-09                                        2005           4                                       0
Mar-09                    2002                1999           4           2005S        2001S          5
May-09                                        2005           4                                       0
Jul-09                                        2005           4                                       0
Sep-09                                        2005           4                                       0
Totals                                        2025                                                4,809

Tuesday          29th September            2009
Month                Opening Trans            Settle       Change        High          Low       Volume
Dec-09                    2048                 2036         -13           2061         2015      13,277
Mar-09                    2070                 2052         -12           2076         2031       4,360
May-09                    2081                 2068         -13           2090         2049       1,641
Jul-09                    2010                 2008         -19           2030         1998        145
Sep-09                    2012                 1992         -21           2018        1985S         29
Dec-09                    1975                 1982         -23          1987S        1975S          4
Mar-09                                         1976         -23                                      0
May-09                                         1982         -23                                      0
Jul-09                                         1982         -23                                      0
Sep-09                                         1982         -23                                      0
Totals                                         2006                                              19,456

Wednesday        30th September            2009
Month                Opening Trans            Settle       Change        High          Low       Volume
Dec-09                    2038                 2085          49           2090         2032       6,679
Mar-09                    2051                 2100          48           2103         2050       2,353
May-09                    2069                 2118          50           2118        2068S       1,214
Jul-09                    2007                 2059          51          2062S        2007S        249
Sep-09                    1995                 2050          58          2052S        1995S       1,075
Dec-09                    2003                 2037          55          2014S        2003S         94
Mar-09                    2000                 2030          54           2011         1999       1,151
May-09                                         2031          49                                      0
Jul-09                                         2031          49                                      0
Sep-09                                         2031          49                                      0
Totals                                         2057                                              12,815

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Thursday             1st October            2009
Month                    Opening Trans         Settle       Change        High          Low       Volume
Dec-09                        2083              2053         -32           2090         2046       7,570
Mar-09                        2098              2071         -29          2108S         2065       3,091
May-09                        2115              2088         -30          2126S        2084S       2,803
Jul-09                        2059              2031         -28           2068        2032S        197
Sep-09                        2050              2016         -34           2050         2035         55
Dec-09                        2025              2002         -35          2029S        2025S         40
Mar-09                        2020              1996         -34           2030        2019S         31
May-09                                          1999         -32                                      0
Jul-09                                          1999         -32                                      0
Sep-09                                          1999         -32                                      0
Totals                                          2025                                              13,787

Friday               2nd October            2009
Month                    Opening Trans         Settle       Change        High          Low       Volume
Dec-09                       2044               1988         -65           2048         1978      13,703
Mar-09                       2062               2008         -63           2062         1997       4,248
May-09                       2072               2028         -60           2078         2017       3,604
Jul-09                       2021               1976         -55          2022S         1968        770
Sep-09                       2001               1971         -45           2001        1956S         53
Dec-09                       1966               1956         -46           1966        1948S          6
Mar-09                       1940               1949         -47          1960S         1940         13
May-09                                          1952         -47                                      0
Jul-09                                          1952         -47                                      0
Sep-09                                          1952         -47                                      0
Totals                                          1973                                               8,694

Average for the
week                                            2017                                              11912
Total for the week                                                                                59,561

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                                 New York Board of Trade
                  (New York Futures Market – Summary of Trading Activities)
                                      (US$ per tonne)

Monday           28th September           2009
Month                    Open               Price        Change        High         Low          Volume
Dec-09                   3077                3085           2          3094         3054          2,683
Mar-09                   3090                3104           1          3114         3085           244
May-09                   3110                3117           1          3117         3095           139
Jul-09                   3104                3111          -2          3105         3088            54
Sep-09                   3102                3107          -6          3103         3087            30
Dec-09                     0                 3105          -8            0           0               1
Mar-09                     0                 3101          -8            0           0               0
May-09                     0                 3121          -8            0           0               0
Jul-09                     0                 3116          -8            0           0               0

Totals                                       3107                                                3,151

Tuesday          29th September           2009
Month                    Open               Price        Change        High         Low           Volume
Dec-09                   3070                3056         -29          3106         3020          5,055
Mar-09                   3100                3078         -26          3127         3042           957
May-09                   3135                3090         -27          3135         3059           150
Jul-09                     0                 3084         -27            0           0               4
Sep-09                   3124                3080         -27          3124         3080            23
Dec-09                   3124                3080         -25          3124         3124             3
Mar-09                     0                 3076         -25            0           0               0
May-09                     0                 3096         -25            0           0               0
Jul-09                     0                 3091         -25            0           0               0

Totals                                       3081                                                6,192

Wednesday            30th September          2009
Month                     Open               Price       Change        High         Low          Volume
Dec-09                    3075               3140          84          3158         3066         10,098
Mar-09                    3093               3161          83          3175         3093          1,588
May-09                    3150               3172          82          3187         3130           361
Jul-09                    3147               3166          82          3147         3132           166
Sep-09                    3129               3164          84          3171         3118            77
Dec-09                    3135               3175          95          3175         3132            58
Mar-09                    3121               3182         106          3175         3119           435
May-09                      0                3225         129            0           0               7
Jul-09                      0                3189          98            0           0               0

Totals                                       3175                                                12,790

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Thursday                1st October           2009
Month                      Open               Price       Change        High         Low          Volume
Dec-09                      3140              3092         -48          3155         3070          7,799
Mar-09                      3152              3116         -45          3176         3097          2,865
May-09                      3171              3126         -46          3185         3121           565
Jul-09                      3160              3121         -45          3163         3158            22
Sep-09                        0               3121         -43            0           0              60
Dec-09                        0               3129         -46            0           0              15
Mar-09                        0               3119         -63            0           0             350
May-09                        0               3162         -63            0           0               0
Jul-09                        0               3126         -63            0           0               0
Sep-09                        0               3126          0             0           0               0

Totals                                        3124                                                11,676

Friday                 2nd October            2009
Month                     Open                Price       Change        High         Low          Volume
Dec-09                    3081                3001          -91         3083         2975         14,013
Mar-09                    3100                3023          -93         3100         3000          3,888
May-09                    3074                3034          -92         3075         3010          1,471
Jul-09                    3020                3025          -96         3033         3010           216
Sep-09                    3020                3020         -101         3020         3014            77
Dec-09                      0                 3028         -101           0           0               0
Mar-09                      0                 3023          -96           0           0             250
May-09                      0                 3053         -109           0           0               0
Jul-09                      0                 3017         -109           0           0               0
Sep-09                      0                 3017         -109           0           0               0

Totals                                        3024                                                19,915

Average for the
week                                          3102                                                  10,745
Total for the week                                                                                  64,469

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Health and Nutrition
What chocolates may bring
Manila Bulletin - Joan Sumpio - Sep 28, 2009
While giving a lecture to a group of parents, one participant took note of my guideline in choosing and serving
foods for the family: “the darker, the better.” We all know that deep colored fruits and vegetables are, most
often than not, higher sources of nutrients than the less deeply colored ones.

The parent then asked: “Would this mean that dark chocolate is better than white chocolates?” The answer to
this is, yes, unless your milk/white chocolate really boosts of being a source of micronutrients other than just
having carbohydrates and fats. The very health conscious parents would, as much as possible, not allow their
children to go for chocolates…that is very easily said than done, because chocolates are often times used as
rewards and tokens for affection.

As a nutritionist, I am a believer that we can really eat anything, but it is up to us to put some balance into our
food intake. Chocolates, especially the dark ones can be a source of antioxidants. Some chocolate manufacturers
are using as high as 70 percent cocoa on their products because of promising studies that have shown decrease
in risk of dying from heart-attack related problems among heart attack victim survivors. A US-Swedish study
has shown that eating chocolate two or more times per week was associated with a 66 percent reduction in
cardiac mortality, while less frequent consumption was also associated with smaller decreased risk; this effect
was seen in dose dependent subjects.

You might wonder, what in chocolates are good for us when it seems so sinful being rich in calories and fat.
Aside from the benefit of satisfying our taste buds, dark chocolates contain serotonin which acts as anti-
depressant, it also contains theobromine and caffeine that stimulates our senses. For its fat contents, most dark
chocolates have:

• Oleic Acid – a healthy fat, that which can also be found in olive oil
• Stearic Acid – a saturated fat that research has shown to have a neutral effect on cholesterol
• Palmitic Acid – a saturated fat, one that increases cholesterol levels and heart disease risk.

Having read those types of fats from chocolates, one may see that 1/3 of the fat in dark chocolate may be
considered as directly bad for ones health. Sadly, chocolate is among the pleasurable food that does not come
without bad effect on health.

But this shouldn’t dampen your likes for chocolates. Chocolate can be made from plants, which could mean that
it carries with it the benefits from flavonoids. Dark chocolate can contain a large number of anti-oxidants, those
that can even help in lowering blood pressures (as shown in a study published in the Hypertension Journal). The
same research also found out that LDL cholesterol in the individual subjects dropped by 10 percent (the study
used only a small test group).

By this time, you must have appreciated some health benefits that we can get from consuming dark chocolates,
but a healthy note for all is to consider the over-all amount of sugar, fats and calories that you get from your
dark chocolate bar. Boring as it may sound….moderation is always the key. Have chocolates once in a while,
but exercise more frequently. Remember, to burn just 100 calories would entail at least 20 minutes of brisk
walking on flat grounds.

Cacao the Healthy Bean with a Long History »
Submitted by AnneMing on September 29, 2009
Best Syndication News
The cacao bean has a much longer history than most people even realize, it can be traced back to ancient texts
where it was used in ceremonies, for medicinal uses and in cooking. There have been archaeological digs that

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have recovered whole cacao beans and vessels, which were believed to be used for drinking cacao and can be
dated as far back as Belize between 600- 400 B.C. This was such an important bean to some civilizations that it
was used as currency.

This bean is found on trees that can reach between 15 and 26 feet in height and are botanically a part of the
evergreen tree family Sterculiaceae and are native to tropical regions. The pod filled beans that grow on these
trees are, what is used to make both cocoa and chocolate.

What has been learned today about the cacao bean that was not known by past civilizations that used the bean
for medicinal purposes and as an editable is the health benefits. Today it is known that they contain nutrients
that are important for good health, like Magnesium, Iron, Antioxidant Flavonoids, Vitamin C, Omega Fatty
Acids and others.

One of the health benefits that chocolate lovers do not realize is its ability to act as an anti depressant, reduce
heart attacks, and stroke. What the person eating chocolate realizes is the satisfying taste of this mixture that is
made from cacao.

Research has proven that this is one of the most nutrient rich foods that is available, and while discussion goes
on about other foods, and whether they are healthy or not the vitamin’s, antioxidants and omega fatty acids give
chocolate a seal for good health.

Cacao has been linked with helping many different health problems, such as skin problems, weight loss,
respiratory problems, and many other health troubles. The health benefits of consuming chocolate help to
protect the cells from the damage that can be caused by free radicals. There is also evidence that this is brain
food, since it contains properties like Serotonin, Dopamine, Anandamide, Typtophan, PEA and MAO inhibitors.
These are properties that help increase mental awareness. It is reasons like these that many researchers believe
that it is a super food, because the antioxidants found in these beans are approximately 500 times higher than
those found in blueberries. There are also other chemical compounds, including Sulfur that is a mineral used by
the body to promote healthy nails, and hair, but another use by the body is to detoxify the liver.

Chocolate lovers know that eating it makes them feel better, what is not evident is why, and that is because of
nutrients like Magnesium, Anandamide and Phenylthlamine that are all found in the cacao bean and that help to
balance the human brain. These chemicals also are known for promoting happy feelings in the brain, which
makes sense to consume products made from the cacao bean when feeling down, although most people do not
realize this, they like the taste.

Do The Math, Thanks to Chocolate
By Courtney Rubin | Tuesday, September 29, 2009
                                  Just in case you need another excuse to eat chocolate: It makes doing math
                                  A study at the UK's Northumbria University found that people given a large
                                  amount of flavanols – found in chocolate – did mental math more quickly
                                  and were less likely to feel tired or mentally drained.

                                   In the study, volunteers first sipped chocolate drinks containing flavanols
                                   (part of a group of chemicals called polyphenols, which work by increasing
                                   blood to the brain) or a control drink. Then they were given mentally-
demanding tasks, such as counting backwards in groups of three from a random number between 800 and 999
generated by a computer. They performed tasks like this for an hour.

The participants who drank the beverages containing either 520 mg or 993 mg of flavanols got a brainpower
boost from the chocolate. (The group who drank 993 mg of flavanols didn't perform significantly better than the
520 mg group, but both groups performed much better than those who imbibed no flavanols at all.)
"The drink rich in cocoa flavanols significantly improved aspects of cognitive performance and levels of fatigue
during this mentally-demanding task," researcher Crystal Haskell of Northumbria's Brain, Performance and

Nutrition Research Centre told the British Psychological Society at its annual meeting.
Dark chocolate has higher quantities of flavanols than plain or milk chocolate. Some bars have as much as 100
mg of the good stuff – not that the scientists are suggesting you eat five!

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"We are also going to look at the effect of lower doses of flavanol on the brain," Emma Wightman, one of the
lead researchers, told the UK's The Telegraph.
The good news: The scientists suggest the chocolate effect could help with any tough (mental) task – not just

Northumbria professor David Kennedy, who helped run the study, told the Telegraph: "For things that are
difficult to do, mentally demanding things that maybe crop up in your work it could help."
Bring on the sugar rush.

Chocolate Reduces Inflammation and Improves Heart Health
eMaxHealth - Deborah Mitchell - Sep 30, 2009
All About: Food Nutrition
Submitted by Deborah Mitchell on Sep 30th, 2009
Good news for chocolate lovers - which is just about everyone. Consumption of antioxidant-rich chocolate leads
to reductions in the levels of inflammatory compounds that contribute to the development of atherosclerosis.
Atherosclerosis is a leading cause of heart attack, peripheral artery disease, coronary artery disease, and stroke.

Several previous studies have uncovered health benefits of chocolate, including a positive impact on blood
pressure, insulin resistance, and vascular function. The beneficial ingredient in chocolate is cocoa, which is rich
in flavonoids, a type of polyphenol (a plant-based antioxidant). Few studies have examined the anti-
inflammatory effects of cocoa, and given the importance of inflammation in heart disease, a randomized,
controlled trial seemed in order.

The researchers enrolled 42 individuals with an average age of 70 who were at high risk for coronary heart
disease: the individuals were diabetics, smokers, obese, hypertensive, and/or had abnormal LDL or HDL
cholesterol levels, as well as a family history of early coronary heart disease. During the eight-week study, the
participants were assigned to consume either skim milk or skim milk plus cocoa powder that contained 495 mg
of polyphenols. After the first four weeks, the participants were switched to the other group.

Tests results showed that blood levels of biomarkers that are involved in the migration of white blood cells into
the lining of blood vessels (endothelium), which promotes inflammation, were significantly lower when the
participants consumed cocoa plus milk than milk alone. Cocoa also resulted in a reduction in the expression of
adhesion proteins in white blood cells, another process involved in the development of atherosclerosis.

Not just any chocolate will provide these benefits, however. Chocolate lovers who also want to help their heart
should look for products that have a high cocoa content (more than 70 percent). Commercially available cocoa
powders also have dramatically lower levels of fat than most standard chocolate bars.

Corti R et al. Circulation 2009 Mar 17; 119(10): 1433-41
Monagas M et al. American Journal of Clinical Nutrition online doi:10.3945/ajcn.2009.27716

Production & Quality
Cocoa AIDS shrinks Cote d’Ivoire output
Commodity MarketABIDJAN (Commodity Online) : World’s largest cocoa grower, Cote d’Ivoire said its cocoa
crops for this fiscal will be either level with or lower than the 2008/09 harvest, due to disease and ageing
plantations. In a report issued here by country’s cocoa management committee said, "We have dozens of teams
on the ground to refine our forecast, which we will finalize by the end of the month”.

The West African nation has largely maintained annual cocoa production around 1.3 million tones despite years
of political and military strife.

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Delayed reforms and investment are beginning to hit cocoa arrivals at ports, which were around 1,160,000 tones
with just a week left in the 2008/09 season, supporting world cocoa futures markets, which have hit highs in
recent weeks.

Analysts said Ivory Coast will miss its target of 1.2 million tones for the 2008/09 season, and warned that
changing weather patterns and, in particular, disease, were becoming a serious threat to the future of Ivorian

They said the country's CNRA agricultural research centre was seeking ways to fight swollen shoot disease
which is described as the AIDS of cocoa locally. Too much rain and the spread of black pod, another disease,
contributed to a poor 2008/09 crop.

Cameroon: Overhauling Channels of Cocoa Production
Lukong Pius Nyuylime - Sep 30, 2009
The magic dream of attaining 200,000 metric tonnes of cocoa or more by 2008 has been realised. The Minister
of Trade, Luc Magloire Mbarga Atangana and the Minister Delegate at the Ministry of Agriculture and Rural
Development, Ananga Clementine Messina who officially launched the 2009/2010 season last week in
Monatele, broke the news with all visible anxiety and satisfaction.

In effect, statistics from the Cocoa and Coffee Board indicate inter alia that exportable production for 2008/2009
season increased by 9.4 per cent on attractive farm gate prices. According to the report, production stood at
205,032 metric tonnes up from 187,475 tonnes the year before. Farm gate prices ranged from CFA 575 a
kilogramme in the East region to CFA 1,095 a kilogramme in the Western production zone giving an annual
farm price of CFA 835 up from CFA 787 the previous season. The present figures, experts say, have surpassed
progress made during the past years.

Just how production did attain this level considering the hick-ups that continue to reign in the sector is the
question on many lips? From every indication, the increase is above all attributed to the effort of the Ministry of
Agriculture, the Institute of Agronomic Research and Development (IRAD), and the Cocoa Development
Authority (SODECAO) in “sensitizing and assisting farmers” on production techniques. Following the
agreement government signed with the Cocoa Development Authority (SODECAO), over five million high
yielding plants were supplied to farmers at reduced rates for the creation of 3,500 hectares of new farms,
Ananga Clementine Messina told farmers at Monatele, stating that this action will continue till 2015. She said
CFA five billion will be budgeted to enhance the programme.

The new plants together with pesticides, fungicides and cocoa treatment tools will be distributed to farmers for
free, she said.

That notwithstanding, the overall element as was observed during the last season, is the attractive prices offered
to farmers. “When prices are bad, farmers refuse to even harvest the crop even if it is abundant in the farms”, the
General Manager of the Cocoa and Coffee Board, Michael Ndoping, said. One of the measures to be taken
during the coming years, if production has to hit 320,000 metric tonnes by 2015 will certainly be to spur farmers
with attractive prices. And for this to happen, concerted effort must be made to weed out impostors.

Weeding out quacks
The existence of fake cocoa dealers have largely contributed to the low quality of beans, Luc Magloire Mbarga
Atangana, Minister of Trade said, sounding the last warning to them. Cocoa impostors are known for buying
beans that is not properly fermented, well dried and conserved at discouraging prices. They take advantage of
the poor situation of the farmers, many of who are ready to give out the crop at giveaway prices to solve
pressing issues. As one of the measures to thwart their activities, authorities of the Cocoa and Coffee Board
announced the creation of new control posts in Bafoussam, Nkongsamba, Bafia and Ebolowa.

The signs of stepping up production are really promising considering that leading producing nations such as
Ivory Coast and Ghana are said to be either regressing or stagnating. The fifth position presently occupied by
Cameroon will need to be improved upon. The whole issue lies in first identifying the problems thereof,
building up practical solutions and ensuring that all projects aimed at achieving this goal are implemented to the
fullest. Cocoa is a delicate crop which is loved by both men and insects. The cocoa tree gets attacked by
different diseases from the roots up to the branches and the pods. The cocoa farmers are quite aware of that and

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that is why one of their problems has been getting insecticides for their farms. Last year, in a bid to fight against
pest, fungal attacks, and pod diseases, government through the Cocoa and Coffee Plant Protection Project,
issued out 60,000 litres of insecticides, 300 sprayers and 150 protection jackets to farmers’ associations. “The
2008/2009 season was a sad one for me because I received no insecticide from government”, Mvondo
Ferdinand, one of the farmers in Moung Village in Lekie Division complained.

This is an indication that something will have to be done to rationalise the distribution of inputs. In the same
vein, technicians must double their effort in transmitting techniques of applying insecticides on the plant.

Ivorian 09/10 Cocoa Crop Seen Down at 1 Mln-1.5 Mln T
Source: Reuters
Abidjan, Sept 30 - Ivory Coast's cocoa harvest is set to fall again with output for 2009/10 crop likely to range
between 1 million and 1.15 million tonnes, a Reuters poll of exporters and traders in the world's top grower
found on Wednesday. The eight organisations polled saw the October-March main crop ranging from 800,000-
950,000 tonnes and put the smaller mid-crop between 150,000-250,000 tonnes.

Reflecting market perceptions that have already pushed cocoa prices to multi-month highs in New York and
London, four of the organisations also predicted a global cocoa supply deficit of up to 100,000 tonnes next year
as world demand rises.

The Ivorian crop estimates fall short of the output for the current season ending on Wednesday, with port
arrivals already around 1.19 million tonnes. They support perceptions of a slow decline in Ivorian production
after output remained stable at around 1.3 million tonnes despite years of political crisis. "There is a lack of
support from the structures in the sector for the producers. The quality of the product is often poor and the farms
are not well maintained or treated," said an exporter, who like all others, asked not to be named.

Other exporters and traders interviewed echoed analysts' concerns over ageing cocoa trees, the spread of disease
and the lack of reform of a poorly managed sector. "Quality is a concern. So is the organisation of the sector,"
another exporter said.

The Ivorian cocoa sector is being managed by an interim committee after administrators were replaced
following investigations into graft last year.

Concrete reforms hinge on elections which were first due in 2005 and are now meant to take place on Nov. 29.
Most observers say the polls are likely to be further delayed by several months. "It is clear that there is a lot of
speculation at the moment because the market is anticipating problems here because of the elections," Paul de
Petter, manager of Swiss chocolate firm Barry Callebaut, told Reuters.

Four of the organisations polled also gave a forecast on the global cocoa supply and demand balance, foreseeing
a deficit ranging between 30,000 and 100,000 tonnes, which was largely dependent on the state of the global

A deficit in 2009/10 would be the fourth in as many crops.

Increased cocoa grindings as the global economic crisis eases and fears over the Ivorian crop have helped
support international cocoa futures prices, which have been hitting multi-month highs in both New York and
London this month. The prices have since eased somewhat. London March cocoa was trading at 2,073 pounds
per tonne at 1236 GMT while ICE December cocoa was trading at $3,115 per tonne.

Foreign-based cocoa traders interviewed in the crop poll tended to give estimates at the higher end of the
spectrum while Ivory Coast-based firms generally gave figures at the lower end.

The estimates from exporters and traders follow a prediction last week by Gilbert Ano, the head of the interim
body currently managing the Ivorian cocoa sector, that the 2009/10 crop would be either level with or lower
than the 2008/09 harvest.

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A leaked report prepared by former colonial power France's embassy in Abidjan this month predicted a
100,000-tonne fall due to poor management and the lack of reforms.

Nigeria 09/10 cocoa crop seen big, buyers lack cash
By Tume Ahemba
LAGOS, Sept 30 (Reuters) - Nigeria's 2009/10 cocoa main crop due to start this week is expected to be much
larger than last season's, dealers said on Wednesday, but many fear trading could be affected by the country's
banking crisis.

Nigeria, the world's fourth largest grower, has seen a steady rise in annual output since the government launched
an ambitious cocoa revival programme four years ago that has raised annual output from around 200,000 tonnes
to between 450,000-500,000 tonnes, according to government figures. "The main crop harvest is just starting
and we are expecting a bumper harvest because weather conditions were very good," Ukpabi Maduabuchi, a
grower in the southeastern state of Abia, told Reuters by telephone from the state capital Umuahia.

There were heavy downpours in the months leading to the harvest and good sunshine in September enhancing
flowering and pod development, said Maduabuchi, who is a local official of the Cocoa Association of Nigeria
(CAN) -- a grouping of growers, buyers, processors and exporters.

Cocoa farming has become increasingly popular in Africa's most populous country thanks to soaring global
commodity prices, which have boosted local prices to record highs. The farm-gate price of Nigerian cocoa was
flat at 360,000 naira ($2,407) per tonne on average in the last month, but 44 percent higher than a year ago.

Farmers may find it more difficult to sell their crop to exporters this season. Dealers said export companies and
other small businesses are struggling to secure loans due to the country's lingering banking crisis.

The central bank last month injected $2.6 billion into five banks and sacked their top management, saying
reckless lending and lax governance allowed them to become so weakly capitalised they posed a systemic risk.

"There will be a lot of cocoa but no money to trade due to the crisis in the banking sector," said Ade Adeshida,
who works for one of Nigeria's biggest cocoa exporters. "Cash flow will be slow because I don't think any bank
will be willing to finance cocoa business this season," he added.

Dealers said they are under increasing pressure from banks to pay their outstanding debt and have been given
less short-term lending options. "Exporters who took money from banks are having problems," buyer Jacob
Abiodun told Reuters from Akure, capital of Nigeria's top growing southwestern state of Ondo.

"The banks are no longer willing to give them new loans so they do not have as much money to buy cocoa this
year as they had last year, especially with the high prices."

Ivory Coast Starts Cocoa Tree Replacement Program for Next Year
By Monica Mark
Sept. 30 (Bloomberg) -- Ivory Coast, the world’s biggest cocoa producer, started a tree replacement program to
improve the quality of its beans, affected by ageing orchards and poor soil quality.

The West African nation’s Coffee-Cocoa Management Committee, known as the CGFCC, will distribute “an
improved variety of seeds to replant 15,000 hectares (37,066 acres) of cocoa trees,” according to a report
distributed by the committee in the capital, Abidjan, yesterday. The seeds will be distributed by district
committees and will target areas affected by swollen shoot disease, Bonu Manjuele, technical adviser to the
Farmers’ Development Fund, which works with the committee, said in an interview yesterday.

Cocoa trees have a 30-year prime, after which their productivity declines. More than 78 percent of cocoa trees in
the country are more than 15 years old, and 19 percent of those are more than 30 years old, according to studies
commissioned by the CGFCC.

The seeds have been dubbed “cocoa mercedes” as they produce pods two years after planting, Manjuele said.
Cocoa trees normally take six to seven years before they yield fruit. The seeds should produce trees that yield

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harvests of 2 metric tons a hectare, compared with the current average of 550 kilograms (1,213 pounds) a
hectare, he said.

Farmers in Ivory Coast receive some of the lowest farm-gate prices in the world, making it difficult for them to
invest in their plantations. “As well as being old, cocoa culture in Ivory Coast is characterized by poorly adapted
agricultural techniques. This program, which will run for 15 years, aims to reverse these problems,” the CGFCC

The season starts Oct. 1 and runs to end-September.

Ivory Coast seeks cocoa boost, expectations low
Thu Oct 1, 2009
By Ange Aboa
ABIDJAN (Reuters) - Ivory Coast's cocoa industry management committee has suggested paying farmers more
than 35 percent more for their beans in the 2009/10 season as it tries to arrest the decline of the country's main
export industry. The new season in the world's biggest producer, which officially opened on Thursday, was
expected to produce between 1 million and 1.15 million tonnes of cocoa, according to a Reuters poll.

That would be lower than the 1.19 million tonnes, grown in the season just ended, that have so far arrived at
ports. To encourage more planters to grow more cocoa, the committee set the new season's guideline price paid
to farmers for cocoa at 950 CFA francs per kg for the 2009/10 season, up from 700 francs per kg in the previous

Gilbert Ano, who heads the government-appointed management committee, said Ivory Coast's political
deadlock had prevented much-needed reforms of the sector from being implemented, and volumes were likely
to fall as a result. "Our plantations have suffered from the crisis ... the most optimistic forecasts predict a fall in
production this year," he told reporters at the launch of the season.

"The fight against degradation of quality is a priority in 2010," Ano said.

Higher farm-gate prices and lower taxes are intended to stimulate production, but until the ageing plantations are
replaced, cocoa harvests will tend to fall. "These are short-term quick-fix measures to prevent substitution away
from cocoa," said commodities analyst Sudakshina Unnikrishnan at Barclays Capital. "The bigger issues such as
lack of infrastructure and investment, and the need for replanting -- these still need to be addressed."

Markets are paying keen attention to elections, seen as a key step towards the country gaining the political will
and capacity to enact reforms, which are scheduled for November 29, though few believe that timetable will not
slip. "There is a palpable sense of concern in the market about the geopolitical risk to production," Unnikrishnan
said, but noted the country's 2002/03 war did not prevent cocoa exports.

"The risk is less to physical supply, but more to perception."

A higher guideline price does not guarantee that farmers will be paid that amount by purchasers. "The farmgate
price is irrelevant because there is no way of enforcing it," said a U.S. based cocoa analyst. "Farmers hear about
it but they don't get it, so they become discontented."

"Ghana puts a large amount of effort into supporting its farmers, whereas Ivorian farmers have been totally
neglected. If you want cocoa to survive and thrive, you have to support the farmer," he said.

Last season, a strike by farmers over the prices they were receiving for their cocoa was one contributory factor
to a badly disrupted harvest.

Earlier on Thursday, exporters said they had received notification that the main export tax, known as DUS
(Droit Unique de Sortie) had been cut by 4.5 percent to 210 CFA francs per kg for the new season from 220
francs in the season just ended.

Cocoa farmers cry out for help
NEXT - Ayodeji Moradeyo - Oct 3, 2009

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The National President of the Golden Cocoa Growers Association of Nigeria, Joseph Akomolafe,has blamed the
Federal Government for the steady decline in cocoa production in the country. Speaking in Akure soon after his
election as the new president of the association, Mr Akomolafe noted that over reliance on crude oil has made
successive governments in Nigeria to ignore the agriculture sector and in particular boosting cocoa production,
which before the oil boom was the country’s major source of income.

For Nigeria to be the world leader of cocoa producing countries, as is being targeted, state governments must
also allocate more funds to the distribution of cocoa seedlings to farmers for free, he added.

No bank loans
Mr. Akomolafe also hinged the decline in the production of cocoa to the failure of banks in the country, to offer
loans at minimum interest rate to the farmers. He said, “It is highly painful that our banks don’t give special
consideration to farmers. They charge exorbitant interest rates from farmers who seek loans from them.”

However, Mr Akomolafe said that the association was ready to partner with the Federal Government as well as
other stakeholders in its bid to address the steady decline in cocoa production in the country.

Akomolafe said, “We shall work in collaboration with the Federal Government of Nigeria, the governments of
cocoa-producing states and local government areas where cocoa is grown. We also will work with researchers
and international bodies on cocoa. This association will initiate programmes and activities geared towards
sustainable cocoa development in Nigeria. All these actions will be towards addressing the decline in cocoa
production in the country.”

He urged members of the association and other cocoa farmers in the country to improve on the quality of their
cocoa beans in order not to force foreign buyers to shun cocoa beans exported from Nigeria.

European Union assessment
The European Union (EU) from September 1, 2008, began an assessment of the quality of cocoa beans imported
into the EU countries, which includes the measurement of traces of substances that have been used upstream in
the supply chain and pesticides used on farms or in storage.

The assessment legdislation passed by the EU is to control the level of chemical usage on food items coming
into the region. The EU passed into law legislation on Maximum Residue Levels to be allowed on cocoa beans
and its products.

Impact of policy on Nigeria
The residue levels policy has been affecting trade in Nigeria, as most of the farmers in the country use pesticides
on their farmlands for pest control and for bean storage.

In a paper published in the African Journal of Agricultural Research Vol. 4 (8), Uche Asogwa, of the Crop
Protection Division of the Cocoa Research Institute of Nigeria, Ibadan, (CRIN) indicates that the institute has
been given a mandate by the government to screen and recommend potential cocoa pesticides and spraying
equipment in Nigeria.

“Though the institute has in the past screened and recommended many of these pesticides and equipment used
by the farmers, but the with the new EU legislation, some of the pesticides still undergoing screening and the
previously recommended pesticides were banned. This new regulation, which came into effect September 1,
2008, has left very few pesticides for use on cocoa both on the farm and post farm activities in Nigeria.”

A research finding by Gbenga Olajide, of the Department of Agricultural Extension and Rural Development of
CRIN, stated that to encourage a hygienic farming condition in the country, the government through the
Ministry of Agriculture, the Cocoa Research Institute, and other relevant non-governmental organisations,
should embark on a sensitisation programme/training scheme to de-emphasize the use of chemicals and
encourage the use of appropriate crop growing practices for improving farm hygiene. He said this was the only
way to produce more yields that would be marketable in the international market.

A research by CRiN estimated that about 125,000 - 130,000 metric tonnes of pesticides are applied every year in
Nigeria and as at 1991, cocoa pesticides accounted for about 31% of the total agro-chemical market of which
fungicides accounted for 65% and insecticides 35%.

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“Pesticide use in Nigeria has been on the increase ever since its introduction in the early 50s for cocoa
production, and Nigerian cocoa production is still dependent on pesticides to attain acceptable levels of crop
production. However progress is being made towards reducing pesticides usage through the use of cultural
practices and resistant varieties.”

Ondo bans storage of cocoa from Osun, Edo
From Niyi Bello, Akure
The Guardian - Nigeria - Niyi Bello - Oct 1, 2009
AS this year's cocoa season approaches, the government of Ondo State has banned the storage and warehousing
of graded cocoa beans from Osun and Edo states within its boundary. The move is expected to prevent fraud in
government's revenue generation drive and curb the unhealthy practice of badly-graded cocoa beans by
unscrupulous merchants from being traced to the state.

Before the ban, the state was reportedly losing millions of naira as revenue through claims, most of them
spurious, that certain stores and warehouses were holding cocoa that did not emanate from the state.

When the season gets to its climax around November, a huge chunk of Internally Generated Revenue (IGR) for
the state would be derived from the process of cocoa grading while billions of naira would be injected into the
home economy through the purchase of the export commodity from the local farmers.

State Commissioner for Natural Resources, Solagbade Amodeni, who announced the ban recently during a
meeting with produce officers, who are charged with the duty of monitoring cocoa production and grading, said
it was done to protect the state's cocoa economy.

According to Amodeni, "the ban on storage and warehousing of graded cocoa from outside this state became
necessary because it would minimise fraudulent and adulteration of cocoa produce that are unfortunately
associated with the business."

While noting that the greatest impediment to attaining premium price for Nigeria's cocoa in the international
cocoa market is the question mark on quality, which is caused by activities of fraudulent merchants and farmers,
the commissioner urged all stakeholders in the trade to promote the integrity of the business.

The commissioner further urged the officers "to always comply with the rules and regulations guiding cocoa
business in the state with a view to producing good quality beans that would meet international standard".

He highlighted various policies being designed and executed by the state government to increase production and
improve the quality of cocoa to include provision of highly subsidised chemicals to assist farmers take care of
the cocoa trees.

Amodeni also stated that constant meetings with produce merchants and Licensed Buying Agents (LBAs) and
other stakeholders in the business were being organized periodically to iron out any encumbrance that could be
encountered in the free flow of cocoa trading.

The Market
SOFTS-Sugar rises, big delivery seen, cocoa steady
By David Brough
LONDON, Sept 28 (Reuters) - Sugar futures extended gains on Monday on investor buying as traders
anticipated a big delivery against expiry of the ICE October raw sugar contract on Wednesday. Cocoa and
coffee were little changed in routine two-way investor dealings, weighed by a firm dollar, with the cocoa market
firmly focused on the main crop harvest in top grower Ivory Coast and industry buyers sidelined by high prices.

Raw and white sugar futures markets gained ground, with the upside capped by the strong dollar, making dollar-
denominated contracts more expensive in terms of alternative currencies.

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Dealers talked of recent bullish news due to persistent wet weather in top producer Brazil, as well as
expectations of strong Indian demand for the sweetener. " I can only assume that the market is up because of the
problems (rains) people are talking about in Brazil," said David Sadler, a senior sugar futures trader.

"The front spreads in New York are getting weaker," he added, referring to ample availability of nearby sugar
and a lack of significant physical offtake.

"We're still in a consolidating phase," Sadler said, in a reference to the recent drifting of raw sugar below 28-
1/2-year peaks.

Sugar traders focused on Wednesday's expiry of the ICE October raw sugar futures contract, and in view of the
large open interest, anticipated a big delivery, perhaps in excess of 1 million tonnes.

Raw sugar futures prices doubled this year after India swung to a net importer of the sweetener, and excessive
rains in Brazil during harvesting have added to upside price pressures.

ICE March raw sugar futures were up 0.84 cent to 24.01 cents a lb at 1437 GMT, extending earlier gains, while
London December white sugar was up $14.00 or 2.4 percent to $591.70 per tonne in moderate volume of 2,692

In the cocoa and coffee markets, the firm U.S. dollar weighed on the complex for much of the session, although
cocoa dealers saw limited downside risk due to expectations of improving demand.

Traders focused on the looming main crop harvests in West Africa, the world's major cocoa producing region.
"A fairly good front-end main crop (in Ivory Coast) is due to arrive," one London-based cocoa dealer said.
Favourable weather conditions last week bode well for the opening of Ivory Coast's 2009/10 main cocoa crop
season this Thursday, farmers said on Monday.

Dealers said they expected cocoa prices to remain near their recent highs due to the constructive market outlook.
In London, the second-position cocoa contract hit a 24-1/2-year high at 2,075 pounds per tonne last Wednesday.
ICE cocoa futures have recently been trading below 14-1/2-month highs.

One trader said he believed that the imminent arrival of the Ivorian main crop would keep a lid on the upside,
despite concerns over the size and quality of the crop.

Traders also said industry was holding back at the current high prices. "Processors are struggling at these
prices," one said.

ICE December cocoa was up $3 to $3,086 per tonne, while London December cocoa was up 20 pounds to 2,055
pounds per tonne, having earlier touched a contract high of 2,066 pounds. London cocoa was buoyed by a soft
pound which makes sterling-denominated contracts cheaper in terms of other currencies.

Coffee futures were little changed under pressure from the firm dollar, in routine two-way investor dealings in
slim turnover. ICE December arabicas were up 0.35 cent to $1.2805 per lb, while London November robustas
were up $15 to $1,415 per tonne in slim turnover of 1,704 lots.

Natural Gas Rises 5.6% Despite Record Supply
Wall Street Journal - Jason Womack - Oct 2, 2009
COCOA : Prices on the ICE Futures U.S. exchange succumbed to pressure from weakness in other commodity
markets, such as crude oil, and a dismal U.S. jobs report. Cocoa-market participants said the jobs data suggest
the economic recovery will take much longer than expected and demand for luxury items like chocolate will
continue to be soft. December cocoa fell $91 to $3,001 a metric ton.

SOFTS-Commodities' retreat deflates sugar and cocoa
By Rene Pastor and Nigel Hunt
NEW YORK/LONDON (Reuters) - Sugar and cocoa futures slid Friday on follow-through liquidation sales as
the two commodities wound up on a sour note after racing to fresh peaks earlier in the week, brokers said.

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Coffee ground higher, with the market taking note of Deutsche Bank's rebalancing of its exchange-traded
commodity funds which should provide some support for arabicas values.

"The whole commodities board is under pressure today," said Alex Oliveira, senior sugar analyst for Newedge

New York's March raw sugar contract sank 0.86 cent to settle at 23.78 cents per lb. London's December white
sugar contract fell $19.50 to close at $589.80 per tonne.

Analysts said some of the downturn in sugar was caused by profit-taking after it surged to over 25 cents in New
York and notched record highs in London.

They said concern over heavy rains in top producer Brazil along with strong demand in India and other
countries should keep losses in check.

VM Group analyst Gary Mead said rains in Brazil had been unusually heavy in July and August, delaying the
crush and lowering the sucrose content of cane. "We are entering into the rainy season now so the crush and the
sucrose are going to be two big problems for the Brazilian crop this year," he said.

Oliveira said the market is also looking at how smooth deliveries are in the expired October raw sugar contract.

A total of 16,000 lots, or 812,837 tonnes, of raw sugar were delivered on the October contract.

"Demand is still there," said Oliveira.

The trade took note that Indian producers of sugar and coarse sweeteners are competing hard for the drought-
thinned cane harvest in the country.

Pakistan bought 25,000 tonnes of white sugar in a tender.

But Indonesian state firm PT Perkebunan Nusantara X said it canceled a plan to import 50,000 tonnes of raw
sugar because no firms would be able to meet an end-October deadline for arrivals.

Cocoa was hammered by investor liquidation along with the weak sterling versus the dollar, dealers said. New
York's December cocoa contract sank $91, or by nearly 3.0 percent, to end at $3,001 per tonne. London's
December cocoa contract sank 65 pounds, off 3.1 percent on the day, to end at 1,988 pounds per tonne.

Market players are awaiting the start of the main crop harvest in top producer Ivory Coast, which should lead to
sizable hedge sales in the weeks ahead.

Third quarter 2009 cocoa grinds are due out in the next few weeks and provide a clue to whether demand is
starting to recover from the ravages of a severe recession. Those grindings are seen taking a hit, but losses
should not be as bad as the first half of 2009 as chocolate makers replenish stocks for the Christmas and New
Year holidays.

Arabica coffee edged higher because the trade believes the Deutsche Bank rebalancing would result in about
5,000 lots of buying in arabicas in the second half of this month.

In Vietnam, the harvest in the world's leading robusta producer is expected to pick up in the weeks ahead.

New York's December arabica contract rose 3.00 cents to close at $1.297 per lb. London's November robusta
contract rose $20 to end at $1,383 per tonne.

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 Processing & Manufacturing
Worst cocoa shortage for 40 years fuels chocolate price rise in UK - Sep 30, 2009
Chocolates-lovers in UK may pay more as the cocoa market endures its biggest shortage in 40 years. The price
of cocoa in UK, one of the largest chocolate eating countries in the world, has rose to about £2,055 a tonne -
highest since 1985, reported.

According to international media reports, the price is the result of lower cocoa harvests in the Ivory Coast,
which produces about 40% of the world's cocoa beans, as well as trouble with supplies from other major

The El Nino weather phenomenon has also hit supplies from Indonesia, the world's third largest producer, and
Ecuador, the seventh largest. "If cocoa prices stayed this high - there would be no choice but to increase the
price of chocolates," Andrew Bonfield, of confectionery giant Cadbury's told Dailymail.

Further, in Asian countries like India and China there is a 3% surge in demand, that affects supplies to the UK
market. At present, India produces around 10,000-12,000 tonnes of cocoa and also imports some for its growing
domestic market. The Indian chocolate market is estimated to be over Rs 2,500 crore.

Nigeria FTN Cocoa grinder H1 profit rises 1.6 pct
Wed Sep 30, 2009
LAGOS (Reuters) - Nigeria's cocoa grinder FTN Cocoa on Wednesday reported a 1.62 percent rise in pre-tax
profit to 197.56 million naira in its half-year to June 30, 2009.
FTN Cocoa, the country's only listed cocoa processor, said in a filing to the Nigerian Stock Exchange that its
turnover rose by 29 percent to 632.49 million niara from 491.64 million naira in the same period of last year.

 Business and Economy
COCOBOD Grabs $1.2bn
 Business and 2009
Daily Guide - Sep 29,Economy
                           Ghana Cocoa Board (COCOBOD) last week signed a trade facility of $1.2
                           billion with international financiers for the purchase of cocoa in the
                           2009/2010 crop year in Paris.

                                  Every year, COCOBOD seeks funding from international financiers for cocoa
                                  purchases in the ensuing season. This year’s facility was once again over
                                  subscribed with new banks joining the syndicate. The mandated organizers
                                  include Ghana International Bank, Natixis, Societe Generale and Standard
                                  Chartered Bank.

The Chief Executive Officer (CEO) of COCOBOD, Tony Fofie in a speech, thanked the banks for making
available the facility. He assured them that COCOBOD and the Mills administration would not misplace the
confidence of the various institutions.

Mr. Fofie mentioned that the present syndicated loan agreement process was initiated during the tenure of the
National Democratic Congress in the 1992/1993 cocoa season.
He further revealed that the core structural reforms and strategies have been beneficial to the cocoa sector begun
during the tenure of the last NDC administration.

Commenting on the global economic crisis, Mr. Fofie was optimistic that COCOBOD as a first class borrower
would continue to meet its obligation under the loan agreement to make the Ghana cocoa sector attractive for

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The CEO of COCOBOD paid tribute to all actors in the Ghana cocoa value chain and thanked the head of
chancery at the Ghana Embassy in France, Novisi Abaidoo for representing President John Evans Atta Mills at
the ceremony.

In her speech at the Ghana Embassy in France, Mrs Abaidoo emphasized that the Mills Administration, which
was guided by the four pillars of transparent and accountable governance, would create jobs; invest in the
people and the expand the infrastructure of the country.

The deputy head of Global Energy and Commodities at Natixis, Dominique Fraisse explained that the facility
was signed because of “the historic rendez-vous between a long time, first class performer of the real economy –
the COCOBOD and a banking community in search of safe values and fair equity remuneration.”

CEPS calls for logistics to fight cocoa smuggling
Peace fm Online - Sep 29, 2009
Customs, Excise and Preventive Service (CEPS) at Honuta in the Ho West Constituency on Tuesday appealed
to the government to provide the service with logistics that would help them combat cocoa smuggling in the
region. They suggested to government to consider increasing the price of cocoa in order to discourage people
from smuggling the product.

Mr Christopher Asiedu, a Collector of CEPS, told journalists that lack of personnel, Wellington boots, raincoats
and other important logistics was impeding their patrol duties in the area since the smugglers were even more
equipped than them. He said over 100 bags of cocoa were abandoned by smugglers during a chase and added “If
we have more men and the logistics we shall be able to match them boot by boot and stop them from their
unpatriotic                                                                                          activities”.

Mr. Asiedu said the current staff of 26 was inadequate to combat smuggling and other crimes in the area and
appealed to the management of CEPS to consider increasing their number to 50 and support them logistically.
He said cocoa price in the country was not attractive to farmers thereby encouraging them to smuggle to
neighbouring Togo for better prices. “I believe that if the government is able to peg the price of cocoa at par
with that in Togo, nobody will be willing to smuggle when they can get the same price for their produce in the

EPA negotiations in limbo – Daramy
Peace fm Online - Sep 29, 2009
Economic Partnership Agreement (EPA) negotiations between West Africa and the European Union (EU) are in
a limbo due to differences over market access, the regional grouping ECOWAS said on Tuesday.

ECOWAS Commissioner for Trade and Industry, Mohammed Daramy, said a meeting between ECOWAS and
the EU last week in Brussels did not make any progress due to the unresolved issues of market access, adding
that an agreement scheduled for signing at the end of next month, "might not happen".

"They just want to give 80 per cent market opening, but based on our technical analysis, we don’t believe we are
ready to go 80 per cent right now,"

Mr. Daramy told reporters on the sidelines at a meeting of ECOWAS Trade and Industry experts in the Ivorian
capital, Abidjan. "Until these points are cleared, I don’t see any time-frame for signing an EPA agreement," he

Representing Ghana at the Abidjan meeting is Mr. Johnson Adasi, Director of Small and Medium Scale
Enterprises (SME), Ministry of Trade and Industry, who co-chaired the working sessions.

The experts are expected to finalise a common industrial policy which seeks to address challenges facing the
various member countries and promote growth of the regional economy.

ECOWAS is negotiating as a sub-group of the larger Africa, Caribbean and Pacific grouping to create a
mutually beneficial liberalised trade zone between member countries and the European Union. However, the
negotiations have persistently dragged with several postponements, compelling Ghana and Cote d'Ivoire, the
world's leading cocoa producers, to sign interim agreements with the EU to enable them continue shipment of
their commodities abroad.

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Mr. Daramy said ECOWAS could give "at most" 70 per cent of its market under the terms and in return would
demand commitment of the EU to support EPA development programmes. "We believe we need to increase
local processing to add value to our goods -- we don’t want our factories to be closed and create unemployment
and social instability."

"I must reiterate that confining West African countries to the production of primary commodities amount to
condemning them to remain locked in the commodity trap," he said.

Mr. Daramy said the persistent delays in reaching a deal would not push ECOWAS to take a decision that would
only serve a short term interest of the Region, adding that the bloc was pursuing other options including trade
deals with China, India and Brazil under south-south cooperation. "West Africa is not negotiating for time -- we
are concerned with reducing poverty and development of our people -- we'll negotiate for the next 20 years if
that is how long it will take to get our concerns addressed," he said.

Mr. Daramy said that ECOWAS was in the "driver's seat" and that it would only seek the good of its people
anywhere it can get it,” he said. He said an ECOWAS-China business forum would be held in Abidjan soon as
part of an international trade fair to boost trade between the two sides.

Mr. Daramy reiterated that mutually beneficial trade and value addition were necessary for West Africa to
become less independent on aid and achieve rapid growth.

The World Bank has projected a slower growth of 3.7 per cent in 2009 for the 15-nation ECOWAS Region,
down from an average five per cent in the past eight years, as a result of spill-over effects of the global financial
meltdown. The Region, with a population of 275.7 million, is mainly primary producer of the world
commodities including more than 40 per cent of world cocoa production.

Cameroon: Need for Synergy to Consolidate Growth
Godlove Bainkong - Sep 30, 2009
Concerted effort between stakeholders in the sector could sustain improvement. Records show that the growth
and sale of cocoa in Cameroon has recorded positive strides in recent years. According to statistics 205,000 tons
of cocoa were produced and commercialised in Cameroon during the last cocoa session and prospects are high
for the coming years.

The positive strides are attributed to improved seedlings, awareness of cocoa farmers and more especially the
increase in the cost per ton of cocoa in the world market as well as a coordinated action by all the stakeholders.
With the noticeable improvement in the sector, Cameroon stands a chance of improving its current 5th spot on
the classification.

Gov't Will Improve Cocoa Sector – President Mills
Peace fm Online - Oct 1, 2009
                              President John Evans Atta Mills, on Thursday reiterated the commitment of
                              government to improve the cocoa sector as a means of achieving a better Ghana.
                              He said the government would support Ghana Cocoa Board (COCOBOD), to
                              undertake projects like providing solar street lighting, bituminous surfacing of
                              selected roads and solar-powered bore holes for some cocoa growing

                                 President Mills said this in a speech read on his behalf at this year’s Cocoa
                                 Producers Alliance (COPAL) Day celebration at Suhum under the theme;
                                 “Consume More Cocoa for a Better Health and a Better Ghana”. He said farm
                                 productivity of less than 500 kilos per hectare was inadequate if the country was
                                 to achieve the target of one million tones and beyond by 2012.

                            "This calls for a review of our technical interventions, particularly the Hi-Tech
and Mass Spraying programmes,” he said.

President Mills said it would be necessary to identify the major problems facing the programme and make a

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conscious effort to address them. “It is my belief that an effective and efficient HI-Tech and Mass Spraying
programme would move the farm productivity to an appreciable level.”

The President said government was voting money for the rehabilitation of cocoa farms adding that it would also
bring into fruition the Cocoa Farmers Insurance Scheme.

He expressed concern about smuggling of cocoa and related products to neighbouring countries and urged all
stakeholders to support government in its efforts to address the menace.

President Mills said cocoa smuggling did not only cost the nation huge sums of money but also posed a major
threat to the country’s desire to attain its targeted output. He said a major threat to the country’s ability to sustain
production levels was the ageing farmer population in cocoa production and called for measures that would
attract the youth to join the sector.

He gave the assurance that government would always strive to put in place the best of measures to improve the
livelihood and welfare of cocoa farmers and motivate them to produce more cocoa to earn higher incomes.

Mr Tony Fofie, Chief Executive Officer of COCOBOD, said the board recognized that the expected increase in
production levels would require some changes in the industry. He said: “We must review our production and
post-harvest technologies to ensure higher efficiency, change marketing strategies to increase the sale of
domestically processed cocoa and modernized warehousing and port handling operations to cope with increased
volumes of cocoa that will be passing through the ports.”

Mr Fofie said COCOBOD in partnership with COPAL was actively encouraging local consumption of cocoa not
just for commercial benefits but for the health benefits as well. He appealed to local cocoa processing
companies and other allied institutions to rationalize their operations with a view to cutting their cost of
operations to make cocoa products affordable to Ghanaians.

Mr Sona Ebai, Secretary General of COPAL, said scientific findings revealed that there were still many more
“wonders about cocoa” yet to be discovered. “As we enjoy a bullish cocoa market, let us continue to devote our
technological imagination to downstream Research and Development in order to lengthen our list of new
products that are healthy and affordable to the people,” he said.

Dr Kwabena Duffuor, Minister of Finance, in an address read for him, appealed to Licensed Buying Companies
(LBCs) to use the Seed Fund that COCOBOD would advance to them to pay farmers promptly when the
2009/2010 cocoa season was opened. He urged COCOBOD to also endeavor to pay LBCs promptly when they
delivered cocoa to the take over centres.

Chocolate industry plans for merge
Etownian - Rachel A. Marsteller - Oct 1, 2009
The smell of chocolate often perfumes the air in Elizabethtown. This “brownies-fresh-out-of-the-oven” scent is
frequently attributed to the large chocolate companies in the area.

The chocolate industry has a changing atmosphere with Cadbury, a British-owned chocolate company, up for
grabs. Recently, Kraft Foods made a $16.9 billion bid for the popular chocolate company. Kraft now has until
Nov. 9 to make a reasonable offer to Cadbury for a takeover or it must back away for six months, according to
The New York Times. The deadline was set at the request of Cadbury executives to see if Kraft will increase its
bid and make it official. The Hershey Co. has also been mentioned as a possible bidder in the war for Cadbury.

Hershey currently carries a brand of Cadbury. They are responsible for the popular crème-filled eggs that appear
every Easter. Die-hard original Cadbury fans scoff at the Americanized version of their beloved chocolates, and
some chocolate fanatics go to great measures to get the original European version. Some request family and
friends bring it back for them on their trips abroad or seek out specialty stores that carry the real Cadbury.

Hershey has been manufacturing Cadbury eggs and candy bars for 21 years. In 1988, an agreement between
Cadbury and Hershey allowed Hershey the right to produce and sell the Cadbury brand in the U.S. The
trademark Cadbury packaging is very similar to the packaging that Hershey uses for its Cadbury products.

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If you have never tasted the U.K. version, you may be asking, “why is this such a big deal?” A food science
professor at Penn State points to the different ingredients used in making this delicious chocolate. In the U.K.,
condensed milk is used rather than powdered, leading to a huge difference in the consistency and taste of the
chocolate. In addition, vegetable fat is banned for use in the U.S. by the government, whereas the European
Union permits its use in commercially-produced foods. Because the U.S. cannot use the vegetable fat, they use
more cocoa powder is used to attempt to create a similar product. By adding the additional cocoa powder, the
chocolate tastes harder and is not as enjoyable, chocolate enthusiasts say.

Kraft Foods is the main bidder at this point, but Hershey has been trying to see what kind of deal they could
possibly broker with the British Cadbury company. As of now, Cadbury plans to stay as its own, independent

A statement released by Cadbury earlier this month said, "The board is confident in Cadbury's stand alone
strategy and growth prospects as a result of its strong brands, unique category and geographic scope. The board
believes that the [Kraft] proposal fundamentally undervalues the group and its prospects." Cadbury is not
turning its back on merger talks, but they did not see the Kraft offer as substantial enough.

Kraft has not given up yet; a statement made last week said, “Kraft Foods is committed to working toward a
recommended transaction and to maintaining a constructive dialogue and is announcing this proposal as a means
to encourage and further that process.”

If the merger is successful, it would make Kraft a “a global powerhouse in snacks, confectionery and quick
meals." Kraft would be able to get up to $50 billion in sales with the acquisition of Cadbury according to

Only time will tell if Kraft will sweeten its deal with Cadbury or if Hershey will step up and gain full control of
the company with which they have already partnered.

African Markets - Factors to watch on Oct 2
Interactive Investor -
Oct 2 (Reuters) -
Ivory Coast's cocoa industry management committee has set the guideline price paid to farmers for cocoa at 950
CFA francs ($2.11) per kg for the 2009/10 season, up from 700 francs per kg in the previous season, it said on

It approved 63 cocoa exporters' licences for the season.

 Research & Development
Another Point for Chocolate
About - News & Issues (blog) - Sep 30, 2009
First anti-oxidants, and now migraine prevention. The news keeps getting better for chocolate. At the
International Headache Society's 14th International Headache Congress in Philadelphia, researchers presented
preliminary evidence that a diet supplemented with cocoa may be beneficial in preventing migraines. Cocoa
seems to increase anti-inflammatory compounds in the brain, which may reduce the incidence of headaches.
Missouri State University researchers are quick to point out that all of this information is in the early stages, and
so far all of their information comes from studies done in rats. Keep your eyes and ears open for chocolate
studies in humans soon. Maybe they need volunteers.

Candy, Chocolate in Kids Makes for Violent Adults, Study Says
By Albertina Torsoli
Oct. 1 (Bloomberg) -- Children who eat candy and chocolate every day are more likely to be violent when they
grow up because the instant gratification can nurture impulsive behavior, according to a U.K. study published

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Researchers from Cardiff University found that 10-year-olds who got daily treats were more likely to have been
convicted for violence by age 34, according to a study that will appear in the October issue of the British Journal
of Psychiatry.

The study is the first to examine the effects of childhood diet on adult violence, according to an e-mailed press
release from the Royal College of Psychiatrists. Others have established a link between food additives and
hyperactive behavior.

“Persistently giving confectionary to children may teach them to be impulsive and to try and get what they want
by using aggression,” Simon Moore, the study’s lead researcher, said in a telephone interview yesterday. Moore
said he and his colleague are “trying to understand the causes of problem behavior.”

Almost 17,500 participants, found through the 1970 British Cohort Study, took part in the research. Since 1970,
there were several data collections, designed to monitor the respondents’ health, education, social and economic
circumstances alongside sweets consumption. The data collection took place when the participants were aged 5,
10, 26, 30, 34 and 42.

Other variables were taken into account and didn’t change the results of the study, the researchers said. They
include a child’s behavior at home at age 5 as well as maternal circumstances; aggression and impulsivity at age
10, assessed by a child’s class teacher; and mental ability at age 5, derived from figure drawing and vocabulary

Learning to Wait
Sixty-nine percent of the participants who were violent by the age of 34 had eaten sweets and chocolates almost
every day during childhood, compared with 42 percent who showed no aggressive behavior, the study found.
The association was consistent even after ecological, childhood and other control variables were included,
according to the researchers.

“Our favored explanation is that giving children sweets and chocolate regularly may stop them learning how to
wait to obtain something they want,” Moore said in a statement. “Not being able to defer gratification may push
them toward more impulsive behavior, which is strongly associated with delinquency.”

The link between sweets consumption and violence is “both novel and robust” and “needs further attention,”
Moore and other researchers wrote. “Targeting resources at improving children’s diet may improve health and
reduce aggression.”

 Promotion & Consumption

Free Divine chocolate with Marie Claire
Marie - Sep 30, 2009
                              Not only does this month's Marie Claire include an exclusive interview and
                              photo shoot with X Factor winner Alexandra Burke, but we've also included an
                              extra treat to sweeten your reading experience, a free bar of Divine Fairtrade

                                Choose from three different flavours - orange milk, 70% dark and 70% dark
                                chocolate with raspberries - when you collect your issue from the newsagent.

                                Divine Chocolate Ltd is not only a successful and delicious chocolate brand, it
                                also represents a pioneering business model. Unlike other chocolate companies,
                                Divine is 45 per cent owned by the farmers who supply its cocoa. Kuapa Kokoo,
                                a cooperative of 45,000 cocoa farmers in Ghana, receives the Fairtrade price for
                                their cocoa and a major share of Divine's profits.

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All Divine products carry the Fairtrade mark - an independent certification that the ingredients in the chocolate
are sourced under internationally agreed fair-trade terms and conditions. Through a sustainable and empowering
model, Divine continues to raise the bar on what fairer trade means.

To find out more about Divine Fairtrade chocolate and Chocolate Week, which runs from 12-16 October, visit

Chocolate Week London Event
Monday September 28, 2009
About - News & Issues (blog) - Sep 28, 2009
Chocolate Week involves the UK's best chocolatiers and chocolate shops holding events all over the UK.

The highlight that you'll want to know about in London is Chocolate Unwrapped at the May Fair Hotel on 10 &
11 October 2009.

Chocolate Unwrapped will have the very best chocolatiers and chocolate companies under one roof, such as
Chococo, Melt, Hotel Chocolat, Artisan du Chocolat, Paul a Young, Rococo, Sir Hans Sloane and Thorntons.

Cheap flights to Paris may attract chocolate lovers - Oct 2, 2009
Chocolate lovers may look to book cheap flights to Paris after details were released of an upcoming fair in the
French capital. The Paris Chocolate Show features over 400 stalls representing the work of 100 international
chocolate sellers, from countries as far and wide as Canada, Japan and Belgium. Anyone with a taste for
chocolate will be able to try a variety of samples throughout the exhibition space.

Elsewhere, additional events include chocolate-themed beauty pageants, children's workshops and an opera.
Moreover, organisers claim that fifty charities will be the recipients of proceeds from a chocolate fashion show.

According to the official convention website, the city has "something new to offer around every
corner - monuments, architecture, historic avenues, parks and gardens". The Paris Chocolate Show could
encourage anyone interested in visiting the French capital to book cheap flights to the city. For those who may
be tempted, the event begins on October 14th and ends on the 18th.

How to make Chocolate »
Submitted by AnneMing on September 29, 2009
Best Syndication News
Many think that making chocolate is a time consuming and difficult process. With careful research we have
prepared the easiest recipe to make the daunting task easy for you. You need to begin with getting cocoa pods
from which we can get cocoa beans. These pods have to be crushed and the pulp surrounding it needs to be
extracted. This pulp has to be then fermented in a natural way for about six days. The fermentation can be done
in boxes or in open heaps after the beans have been dried.

The fermentation can be done by artificial means but the quality is affected. The artificial methods are mainly
used while making chocolates in bulk. The beans are then graded and roasted thereafter.

The time that the beans should be roasted for depends on the type and the size of the beans. The roasting affects
the flavour of the chocolate that will be made. After crushing the beans lightly, the kernel or the nib is separated
from the shell. The husk is then is discarded after being separated.

Many manufacturers at this stage add the nib through an alkaline process to enhance the flavour and the colour
of the chocolate which is not done by purists. These purists like to make the finest chocolates without this
alkalisation and leave the colour and the flavour on the quality of the beans and its natural processing.

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The fat content in these nibs or as it called cocoa butter is very high. The nibs are milled finely and liquefied in
the heat of the milling process to make cocoa liquor. After this the cocoa liquor is allowed to cool and solidify.

Some of the cocoa butter is reserved if the end product is chocolate.
The other part of the liquor is then pressed to make cocoa butter. The retained liquor is then blended with
chocolate butter and other required ingredients to make the final product we all wanted… Chocolate. So it is not
that difficult to make chocolates- a sin we all love to commit.

Marabel Cocoa Farms - cacao - Sanchez and Hispaniola cacao beans producer and importer from the Dominican

Tel: (800) 919-3744
Tel: (626) 446-5995

Tourists Visit Tetteh Quarshie Cocoa Farm
Date: 30-Sep-2009
                                 A proud cocoa farmer

                                     The Ministry of Tourism in collaboration with the United Nations Tourism
                                     Organization (UNWTO) has embarked on a cocoa trail to the Eastern
                                     Region to climax the week-long World Tourism celebrations in Ghana.

                                     The trip, which was supposed to be the culmination of the week-long
                                     celebrations took the team, including foreign dignitaries, ministers of
                                     tourism from sister African nations, tourism operators, the corporate world,
                                     international and local newsmen alike to the Tetteh Quarshie Cocoa farm at
                                     Akuapim Mampong in the Akuapim North District.

                                        The team also visited the Cocoa Research Institute of Ghana and the Bunsu
Arboretum both in the East Akim Municipality. A tour Guide attached to the Tetteh Quarshie Farm, Mr.
Ebenezer Martei Hammond who took the team through the history of cocoa in Ghana entreated tourist to make
it a point to visit the farm regularly to get abreast of information about Tetteh Quarshie, the man who is credited
with the origin of cocoa in Ghana.

Mr. Hammond also led the team to have a feel of the museum of implements attached to the cocoa farm where,
farm implements such as cutlass, hoes, pots and stools among others that were used by the late statesman have
been kept for tourism purposes. Cocoa is now considered the chief and foremost foreign exchange earner for

Tetteh Quarshie, born in 1842 and of Ga Parentage is hailed as the pioneer of the Ghana Cocoa industry. He was
a Blacksmith by profession and visited Fernandopo, Cameroun, in 1876. Subsequently, he raised the first cocoa
farm in Ghana in the same year and passed on to eternity in 1879.

Over 160,000 to Benefit from World Cocoa Foundation Youth Education Program in West Africa
Two-year, $5.6 million public-private partnership to focus on youth and young adults in Cote d'Ivoire and
WASHINGTON, Oct. 1 /PRNewswire/ -- The World Cocoa Foundation today announced a public-private
partnership for rural education with the U.S. Agency for International Development (USAID) Africa Education
Initiative and its members Kraft Foods; The Hershey Company; Mars, Incorporated; Starbucks Coffee
Company; Fazer Confectionery; Olam International Ltd.; The Hain Celestial Group, Inc.'s SunSpire brand;
Guittard Chocolate Company and Barry Callebaut as well as The Jacobs Foundation and the Norwegian
Association of Chocolate Manufacturers. The initial two-year program began in October 2007; the $5.6 million
cash and $2 million in-kind contributions will extend the program for an additional two years through
September 2011.

The Empowering Cocoa Households with Opportunities and Education Solutions (ECHOES) Alliance in Cote
d'Ivoire and Ghana has already reached thousands of young people directly through vocational agricultural

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training and indirectly by training teachers in interactive teaching approaches. The program aims to develop a
replicable, scalable model for improving education in rural West Africa.

Dr. Sarah Moten, coordinator of USAID's Africa Education Initiative, commented, "We're very happy about
what ECHOES has been able to accomplish in just two years and we look forward to even more dramatic
success as we bring access to the world's sources of knowledge to young people in rural Africa. They are the
next generation of leaders and the future of the continent. We need to give them every chance for success."

In its second phase, the program will place more of an emphasis on directly reaching youth and young adults.
Activities will focus on in-school education at the primary and secondary school levels; training for out-of-
school youth; agriculture-related extracurricular activities; family support scholarships; and literacy training.
Additionally, the program will train teachers working in cocoa-growing communities. Overall, these activities
will directly benefit over 20,000 young people and indirectly impact an additional 140,000 people across both

The program will build on the successes of the first two years while incorporating new elements such as using
information technology to improve learning, encourage community education, and private education activities.

"Improving the quality and relevancy of education in cocoa-growing communities is essential to expanding
opportunities for young people and ensuring the long-term sustainability of the cocoa sector. It is wonderful that
USAID, the private sector and the governments of Cote d'Ivoire and Ghana have been so supportive of our
efforts to continue this important work," said WCF President Bill Guyton.

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(Source: Business Recorder –

Brazilian cocoa arrivals down
SAO PAULO (October 04, 2009): Brazil's 2009/10 (May/April) cocoa arrivals, including imports, reached 1.98
million 60-kg bags by September 27, down 7.7 percent from this time last year, Bahia Commercial Association
said. Bahia, Brazil's main cocoa state, delivered 28,497 bags in the week ending September 27, down from the
30,827 delivered a year ago.

Ivorian cocoa season starts
ABIDJAN (October 04, 2009): Ivory Coast's cocoa industry management committee has set the guideline price
paid to farmers for cocoa at 950 CFA francs ($2.11) per kg for the 2009/10 season, up from 700 francs per kg in
the previous season, it said on Thursday. The 2009/10 season, which officially opened on Thursday, is expected
to produce between 1 million and 1.15 million tonnes of cocoa, according to a Reuters poll.

New York cocoa falls
NEW YORK (October 04, 2009): US cocoa futures tumbled to close down nearly 3 percent Friday, on long
liquidation and options-related dealings, while industry buying prevented deeper losses, traders said. Benchmark
December cocoa on ICE Futures US fell $91, or 2.9 percent, to close at $3,001 per tonne. Trades ranged from
$2,975 to $3,083 per tonne. Volume for December at a heavy 13,449 lots at 1:07 pm EDT (1707 GMT).

London sugar and cocoa lower; coffee up
LONDON (October 03, 2009): December Liffe white sugar ended $19.50 lower at $589.80 per tonne, weighed
by a broad-based downturn in crude oil and other commodities. Market remains underpinned by concerns about
excessive rains in top producer Brazil. March cocoa ended 63 pounds lower at 2,008 pounds a tonne, weakened
by losses in other commodity markets.

US MIDDAY: sugar and cocoa tumble
NEW YORK (October 03, 2009): Summaries of the ICE Futures US cocoa, coffee and sugar markets early on
Friday. December arabica coffee contract rose 1.85 cents to $1.2855 per lb at 11:07 am EDT (1507 GMT).
Session range from $1.2625 to $1.2910. Arabica coffee futures turned up on investor buying as the US dollar
reversed lower, said brokers.

Sugar and coffee fall in London
LONDON (October 02, 2009): Sugar and robusta coffee futures fell on Thursday, weighed by a stronger dollar
and lower oil prices, with the sugar trade's attention focused on expiry of the ICE October contract the previous
day. December white sugar ended $8.70 lower at $609.30 per tonne on Thursday, having earlier touched a
lifetime peak for the front month of $621.00.

US MIDDAY: sugar sinks, coffee up
NEW YORK (October 02, 2009): Summaries of the ICE Futures US cocoa, coffee and sugar markets early on
Thursday. December arabica coffee contract gained 0.40 cent to $1.2820 per lb at 11:09 am EDT (1509 GMT).
Session range from $1.2590 to $1.2975. Arabica coffee futures reversed higher after bouncing up from support
at the session lows, said brokers.

Sugar and cocoa rise in London
LONDON (October 01, 2009): December white sugar ended $7 higher at $618.00 per tonne on Wednesday after
soaring to a record peak for the front month of $618.40. Market buoyed by a weaker dollar and nagging
concerns about rains during harvesting in top producer Brazil. March cocoa ended 48 pounds higher at 2,100
pounds a tonne, having earlier hit a contract high of 2,103 pounds. Market remains underpinned by improving
demand prospects and supply concerns in top producer Ivory Coast.

US MIDDAY: coffee and cocoa up; sugar slips
NEW YORK (October 01, 2009): Summaries of the ICE Futures US cocoa, coffee and sugar markets early on
Wednesday. December arabica coffee contract rose 0.80 cent to $1.2630 per lb at 11:06 am EDT (1506 GMT).
Session range from $1.2555 to $1.2735. Arabica coffee futures moved into positive territory in thin dealings,
retracing Tuesday's losses with a boost from the weak dollar, said brokers.

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London sugar hits record high
LONDON (September 30, 2009): December white sugar ended $17.50 or nearly 3 percent higher at $611.00 per
tonne on Tuesday after soaring to a record peak for the front month of $617.70. Market buoyed by concerns
about excessive rains during harvesting in Brazil. March cocoa ended 12 pounds lower at 2,052 pounds a tonne.

US MIDDAY: sugar rallies; coffee and cocoa lower
NEW YORK (September 30, 2009): Summaries of the ICE Futures US cocoa, coffee and sugar markets early on
Tuesday. December arabica coffee contract fell 1.20 cents to $1.2595 per lb at 11:10 am EDT (1510 GMT).
Session range from $1.2560 to $1.2740. Arabica coffee futures weak on the firm dollar and chart-based
weakness, said brokers.

US MIDDAY: sugar, coffee and cocoa soar
NEW YORK (September 29, 2009): Summaries of the ICE Futures US cocoa, coffee and sugar markets early on
Monday. December arabica coffee contract rose 0.40 cent to $1.2810 per lb at 11:13 am EDT (1513 GMT).
Session range from $1.27 to $1.2840. Arabica coffee futures turned higher as the commodity complex and US
equities climbed, said brokers.

Ivorian cocoa weather good in runup to season start
ABIDJAN (September 29, 2009): Favourable weather conditions last week bode well for the opening of Ivory
Coast's 2009/10 main cocoa crop season this Thursday, farmers said on Monday. Bad weather was one of the
many problems that dragged 2008/09 harvest volumes in the world's biggest cocoa producer below initial
expectations, but farmers say the forthcoming season may begin promisingly.

London cocoa hits 24-1/2 year peak
LONDON (September 29, 2009): March cocoa at Liffe ended 14 pounds stronger at 2,064 pounds a tonne on
Monday after earlier rising to a 24-1/2 year high for second month of 2,080 pounds. Market buoyed by a pick-up
in industry demand and supply concerns in Ivory Coast. December white sugar ended $15.80 higher at $593.50
per tonne. Traders anticipating big delivery against expiry of March raws on ICE.

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