ICO forecasts cocoa deficit of 70,000 tonnes

THE International Cocoa Organisation forecasts a world production deficit in 1998-99 of 70,000 tonnes, compared with an estimated deficit of 146,000 tonnes during the previous year.

The organisation forecasts 1998-99 production at 2.79m tonnes and grindings at 2.86m tonnes. The biggest producer Ivory Coast is reckoned to produce 1.14m tonnes in 1998-99.

• Fire hits Ivory Coast cocoa factory, FWi, 24 June, 1998
• Confusion over El Niño effect on Ivory Coast cocoa, FWi, 11 September 1997
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  Financial Times 04/09/98 page 30 (News Digest)