Bloomberg News

Olam Forecasts Cocoa Shortage of 100,000 Tons for 2011-12 Season

December 12, 2011

Dec. 12 (Bloomberg) -- Cocoa production will lag behind demand by 100,000 metric tons for the 2011-12 season, Gerry Manley, a managing director of Singapore-based Olam International Ltd., said by phone from London today.

The Ivory Coast crop will be 1.35 million tons, down from over 1.75 million tons in 2010-11, according to Manley, who is also global head for cocoa at the company. Global grindings will climb 3 percent, down from 4.5 percent a year earlier, he said.

To contact the reporter on this story: Isis Almeida in London at ialmeida3@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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