Bloomberg News

Ghana, Ivory Coast Cocoa-Growing Areas to Get Rainfall

May 29, 2012

Ivory Coast and Ghana, the world’s largest cocoa producers, will get rains over the next seven days, potentially helping pod development, according to the U.S. National Oceanic and Atmospheric Administration.

Most areas in the top growers will get at least 40 millimeters to 50 millimeters (1.6 to 2 inches) of rain through June 5, data on the NOAA website show. Large parts of Ivory Coast and the coastal areas of Ghana will get as much as 75 millimeters, according to the data. Rainfall may reach 100 millimeters in some areas.

Ghana and Ivory Coast accounted for 69 percent of total global cocoa production last season, according to the London- based International Cocoa Organization. The smaller of two annual harvests in Ivory Coast, known as the mid-crop, has started, the ICCO said.

Rainfall may help pod-development for this season and the next after dry weather delayed the start of the mid-crop harvesting, which usually begins in April, according to Macquarie Group Ltd. Cocoa gained 0.3 percent to 1,481 pounds ($2,325) a metric ton on NYSE Liffe in London yesterday.

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.


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus