date:Jun 05, 2012
Supply was expected to fall behind demand by 71,000 metric tonnes (mt) for the cocoa year, but the ICCO now expects the shortage to be 39% less at 43,000 mt.
In its May 2012 Quarterly Bulletin of Cocoa Statistics issued last week, the ICCO said favourable weather and higher grinds than previously forecast in the Ivory Coast and other growing countries such as Nigeria and Brazil could help plug the deficit.
Output in the Ivory Coast, the largest cocoa growing country, is expected to be up alm