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The price of cocoa stagnates
Posted On 25 Apr 2017
Cacao ton closed in New York market at $ 1,816 (not far from its minimum price for nine and a half years of $ 1,756) and in London at 1,424 pounds, -2.3%.
Yesterday Ecuador’s Minister and Deputy Minister of Agriculture Javier Ponce and Luis Valverde attended the meeting of the International Cocoa Organization in Abidjan, the headquarters of the body in the Ivory Coast, to seek two things: to counteract the oversupply calculated in one million tons and to increase the consumption of chocolate in China, Japan, Korea and India.
“This high-level meeting seeks to send a clear message to the market that cocoa is important for our countries and we must have some control over excess production,” said the deputy minister. “This will be discussed to prevent overproduction in a controlled and planned way.”
Source: http://www.expreso.ec/
