{"id":19875,"date":"2024-02-07T09:57:07","date_gmt":"2024-02-07T09:57:07","guid":{"rendered":"https:\/\/www.selinawamucii.com\/news\/?p=19875"},"modified":"2024-02-07T10:05:41","modified_gmt":"2024-02-07T10:05:41","slug":"ivory-coast-downgrades-mid-crop-cocoa-harvest-to-400000-tonnes","status":"publish","type":"post","link":"https:\/\/www.selinawamucii.com\/news\/2024\/02\/07\/ivory-coast-downgrades-mid-crop-cocoa-harvest-to-400000-tonnes\/","title":{"rendered":"Ivory Coast downgrades mid-crop cocoa harvest to 400,000 tonnes"},"content":{"rendered":"\n

Ivory Coast\u2019s mid-crop cocoa harvest might shed yields by 25% to between 400,000 and 450,000 tonnes, according to regulators.<\/p>\n\n\n\n

This is happening just 21\/2 \u00a0<\/sup>months after rainfall during the dry season in November 2023 fanned hopes of a\u00a0major harvest<\/u><\/a>.<\/p>\n\n\n\n

On February 6, 2024,\u00a0insiders at Ivory Coast\u2019s Cocoa-Coffee Council (CCC) disclosed to Reuters of the\u00a0looming drop in the mid-crop yields. The sources said that to gauge output margins, the country has already forward-sold up to\u00a0350,000 tonnes<\/u><\/a>\u00a0of the mid-crop.<\/p>\n\n\n\n

Mid-crop cocoa is the lesser of two cocoa harvests in Ivory Coast and it runs from\u00a0June to September. It follows the main season which, in turn, starts from October through March.\u00a0<\/p>\n\n\n\n

Millers Bag 730,000-ton Stocks<\/strong><\/strong><\/h3>\n\n\n\n

Despite falling below the 550,000-tonne margin of the 2022-23 mid-crop, the 2023-24 beans will still meet domestic milling demands.\u00a0<\/p>\n\n\n\n

Local grinders will have up to 90% of beans at hand through early stocking. CCC has enabled local millers to hit their yearly capacity of 730,000 tonnes of beans by allocating them buying reserves.<\/p>\n\n\n\n

This move is wise as Ivory Coast may only produce 1.75 million tonnes of cocoa beans in the 2023-24 market year.<\/p>\n\n\n\n

Dry Winds<\/strong><\/strong><\/h3>\n\n\n\n

The current Harmattan winds that are fanning across cocoa fields are among the weather-related causes for the tonnage fall. The winds dry up the plantations and reduce moisture retention in cocoa bean pods.<\/p>\n\n\n\n

Even the October 1 to February 4 main cocoa crop suffered dry winds despite\u00a0occasional rain<\/u><\/a>\u00a0and lost yields by 39%. <\/p>\n\n\n\n

Farmers managed to transport\u00a01.04 million tonnes\u00a0<\/u><\/a>of cocoa to Abidjan and other ports during this main export window.<\/p>\n\n\n\n

Cocoa Gains on Shortage<\/strong><\/strong><\/h3>\n\n\n\n

With reserves shrinking from the world\u2019s number one cocoa producer, Ivory Coast,  Western markets are coping with steep price climbs.<\/p>\n\n\n\n

In London, the February 6 futures for March cocoa surged six days in a row, to sell at \u00a34,242 per tonne<\/u><\/a>. This was a rise of 1.4% from the previous day or an extra \u00a359, a daunting margin.<\/p>\n\n\n\n

The New York session on February 6  echoed that of London, by gaining 0.60% from the previous day\u2019s session.<\/p>\n\n\n\n

West African cocoa landings into the United States fell to 4.1 million bags on January 12, a 2-year, 9-month low.<\/p>\n\n\n\n

For now, CCC in Ivory Coast is watching monthly changes in its mid-crop cocoa crop. This analysis will help determine if the looming fall is merely a passing cycle.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ivory Coast\u2019s mid-crop cocoa harvest might shed yields by 25% to between 400,000 and 450,000 tonnes, according to regulators. This is happening just 21\/2 \u00a0months after rainfall during the dry season in November 2023 fanned hopes of a\u00a0major harvest. On February 6, 2024,\u00a0insiders at Ivory Coast\u2019s Cocoa-Coffee Council (CCC) disclosed to Reuters of the\u00a0looming drop…<\/p>\n","protected":false},"author":3,"featured_media":19876,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"yoast_head":"\nIvory Coast downgrades mid-crop cocoa harvest to 400,000 tonnes - Selina Wamucii | Food & Agriculture News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.selinawamucii.com\/news\/2024\/02\/07\/ivory-coast-downgrades-mid-crop-cocoa-harvest-to-400000-tonnes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ivory Coast downgrades mid-crop cocoa harvest to 400,000 tonnes - Selina Wamucii | Food & Agriculture News\" \/>\n<meta property=\"og:description\" content=\"Ivory Coast\u2019s mid-crop cocoa harvest might shed yields by 25% to between 400,000 and 450,000 tonnes, according to regulators. 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