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Anecacao turns 30 in a complicated moment
Posted On 06 Mar 2017
The Association of Cocoa Exporters (Anecacao) will celebrate three decades of institutional life this year and will do it amid uncertainty over low international prices and the promise of better days, fueled by the growing demand for chocolate in Asian countries.
The stock market drop is due to two factors, according to Juan Pablo Jaramillo, president of Anecacao. On the one hand is the slight decrease in the consumption of chocolate in the world, and on the other, the announcement that the producers of cacao (Ivory Coast and Ghana), will increase their production even more.
To date, a year ago, a ton of cocoa traded at around $ 3,000, the price is currently between 1,900 and 2,000 dollars.
“The main problem is that this is not something momentary, we think it can last several months,” says Jaramillo, who adds that it is very unlikely that there will be a stabilization of costs before the last quarter of 2017 when, in theory, the European demand should grow for the winter season.
Source: http://expreso.ec/
