0COPAL COCOA Info
Cocoa Producers' Alliance
In-House Cocoa Newsletter
A Weekly Newsletter of Cocoa Producers' Alliance
Issue No. 521
3rd – 7th December 2012
UP-COMING EVENTS
IN THIS ISSUE

ICCO INSIDE
DAILY COCOA
THISPRICES
ISSE:

LONDON (LIFFE) FUTURES MARKET
UPDATE

NEW YORK (ICE) FUTURES MARKET
UPDATE

FROM THE NEWS MEDIA
Do your health a favour, drink Cocoa everyday
‘It’s nature’s miracle food’
In the News (from Newspapers worldwide)
Health and Nutrition
 5 healthy hot cocoa recipes
 Health benefits of hot cocoa
 Benefit6 Whole Body Protection, a new product by
I do strive LLC, made with clinically proven
ingredients to enhance brain function and cognitive
abilities
Production and Quality
 Mondel to invest us$400 million under cocoa life
in Asia Pacific
 UFP government to revolutionize cocoa industry
The Market
 Cocoa futures edge to 9-week high on supplydeficit outlook

 NY cocoa to retest resistance at $2,562
 Cocoa butter at 3-year peak on Ivory Coast subsidy
woes
Labour Issues

Environmental Issue

Research & Development
 Cocoa Foundation selects researchers for us
study
Promotion & Consumption
 Best hot chocolate in Chicago: where to warm up
with the tastiest cups of cocoa
 Best hot chocolate in Chicago: where to warm up
with the tastiest cups of cocoa
Others

Processing and Manufacturing
 Cargill halts Ivory Coast cocoa grinding expansion
Business & Economy
 $32m to import cocoa bags
ICCO Daily Cocoa Prices
ICCO Daily Price
(SDR/tonne)
ICCO Daily Price
($US/tonne)
London futures
(£/tonne)
New York futures
($US/tonne)
3rd December
1660.03
2550.71
1596.33
2533.00
4th December
1604.79
2471.22
1553.00
2443.67
5th December
1596.66
2457.91
1545.00
2430.00
6th December
1599.06
2459.76
1552.00
2427.00
7th December
1600.48
2451.47
1551.00
2418.00
1612.00
2478.00
1559.00
2450.00
Average
ALLIANCE OF COCOA PRODUCING COUNTRIES, NATIONAL ASSEMBLY COMPLEX,
TAFAWA BALEWA SQUARE, P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234-70-9814-1735; +234-70-9814-1736;
FAX: +234-1-290-4262 Email: econs@copal-cpa.org Website: www.copal-cpa.org
2
International Financial Futures and Options Exchange (LIFFE)
London Futures Market – Summary of Trading Activities
(£ per tone)
Monday
Month
Dec 2012
Mar 2013
May 2013
Jul 2013
Sep 2013
Dec 2013
Mar 2014
May 2014
Jul 2014
3rd December
Opening Trans
1603
1584
1592
1597
1600
1586
1579
1580
1606
Sep 2014
Average/Totals
Tuesday
Month
Dec 2012
Mar 2013
May 2013
Jul 2013
Sep 2013
Dec 2013
Mar 2014
May 2014
4th December
Opening Trans
1598
1581
1587
1596
1602
1585
1580
1600
Jul 2014
Sep 2014
Average/Totals
Wednesday
Month
Dec 2012
Mar 2013
May 2013
Jul 2013
Sep 2013
Dec 2013
Mar 2014
May 2014
Jul 2014
Sep 2014
Average/Totals
5th December
Opening Trans
1596
1547
1552
1558
1564
1555
1556
1569
1564
2012
Settle
1603
1591
1596
1602
1608
1594
1594
1601
1606
1610
1601
Change
10
5
4
3
3
3
4
5
5
5
High
1605
1598S
1601S
1609S
1616
1600S
1602
1604S
1608
Low
1580
1572
1579
1588S
1594S
1580S
1579S
1580
1602
Volume
3,034
8,121
6,689
661
616
470
930
208
127
0
20,856
Change
-11
-43
-43
-44
-44
-42
-40
-42
-42
-46
High
1618S
1589S
1592
1598S
1604S
1585
1590S
1601S
Low
1584S
1544S
1549
1555S
1561S
1549
1553S
1580
Volume
5,656
8,584
3,531
694
490
225
129
54
0
0
19,363
Change
-4
-8
-8
-8
-9
-9
-7
-5
-5
-5
High
1603S
1563
1566S
1570S
1576S
1563S
1564S
1569
1564S
Low
1580
1537
1541S
1547S
1552S
1540S
1543S
1552S
1554S
Volume
9,120
6,317
2,190
1,789
1,371
869
746
87
47
0
22,536
2012
Settle
1592
1548
1553
1558
1564
1552
1554
1559
1564
1564
1561
2012
Settle
1588
1540
1545
1550
1555
1543
1547
1554
1559
1559
1554
ALLIANCE OF COCOA PRODUCING COUNTRIES, NATIONAL ASSEMBLY COMPLEX,
TAFAWA BALEWA SQUARE, P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234-70-9814-1735; +234-70-9814-1736;
FAX: +234-1-290-4262 Email: econs@copal-cpa.org Website: www.copal-cpa.org
3
Thursday
Month
Dec 2012
Mar 2013
May 2013
Jul 2013
Sep 2013
Dec 2013
Mar 2014
May 2014
6th December
Opening Trans
1598
1541
1548
1554
1560
1546
1550
1559
Jul 2014
Sep 2014
Average/Totals
Friday
7th December
Month
Settle
1620
1547
1552
1557
1562
1550
1551
1558
1563
1563
1562
Average/Totals
Average for the week
1562
Mar 2013
May 2013
Jul 2013
Sep 2013
Dec 2013
Mar 2014
May 2014
Jul 2014
Sep 2014
Change
32
7
7
7
7
7
4
4
4
4
High
1623S
1549
1554S
1559S
1562S
1552S
1552S
1560S
Low
1592S
1533
1539S
1543S
1548
1538
1540
1550
Volume
11,941
16,474
1,839
930
522
313
722
50
0
0
32,791
Change
1
-1
-1
-1
-1
1
0
0
0
0
High
1630
1559
1560S
1565S
1569S
1558S
1556S
1553
1558S
Low
1607S
1531
1537
1542
1547S
1540S
1543S
1553
1558S
Volume
6,423
9,917
5,773
1,792
795
3,299
16
10
10
0
28,035
2012
Settle
1621
1546
1551
1556
1561
1551
1551
1558
1563
1563
1562
Dec 2012
Opening Trans
1623
1543
1550
1555
1560
1556
1556
1553
1558
2012
ALLIANCE OF COCOA PRODUCING COUNTRIES, NATIONAL ASSEMBLY COMPLEX,
TAFAWA BALEWA SQUARE, P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234-70-9814-1735; +234-70-9814-1736;
FAX: +234-1-290-4262 Email: econs@copal-cpa.org Website: www.copal-cpa.org
5097
5097
4
New York Board of Trade
(New York Futures Market – Summary of Trading Activities)
(US$ per tone)
Monday
Month
Dec 2012
Mar 2013
May 2013
Jul 2013
Sep 2013
Dec 2013
Mar 2014
May 2014
Jul 2014
Sep 2014
3rd December
Open
2577
2490
2500
2493
2505
2504
2517
2533
2547
0
Average/Totals
Tuesday
Month
Dec 2012
Mar 2013
May 2013
Jul 2013
Sep 2013
Dec 2013
Mar 2014
May 2014
Jul 2014
Sep 2014
Month
Dec 2012
Mar 2013
May 2013
Jul 2013
Sep 2013
Dec 2013
Mar 2014
May 2014
Jul 2014
Sep 2014
Average/Totals
Price
2562
2519
2524
2528
2530
2530
2534
2541
2543
2548
Change
24
21
20
19
19
17
19
18
17
16
High
2578
2555
2558
2560
2560
2556
2555
2545
2547
0
Low
2577
2479
2486
2493
2494
2504
2517
2533
2536
0
2536
4th December
Open
2483
2510
2516
2518
2523
2520
2526
2530
0
0
Average/Totals
Wednesday
2012
23229
2012
Price
2491
2444
2451
2457
2458
2459
2464
2471
2473
2478
Change
-71
-75
-73
-71
-72
-71
-70
-70
-70
-70
High
2483
2519
2522
2527
2523
2529
2534
2530
0
0
Low
2480
2431
2439
2445
2446
2446
2457
2525
0
0
2465
5th December
Open
2480
2452
2471
2462
2474
2443
2472
2502
0
0
Volume
166
17,082
3,255
928
660
111
850
91
86
0
Volume
3
19,734
5,766
1,310
850
411
93
8
0
0
28175
2012
Price
2460
2420
2427
2433
2435
2437
2442
2449
2451
2456
2441
Change
-31
-24
-24
-24
-23
-22
-22
-22
-22
-22
High
2490
2466
2471
2469
2475
2443
2480
2502
0
0
Low
2472
2415
2424
2430
2433
2436
2440
2502
0
0
Volume
9
11,566
1,177
556
435
168
151
77
43
0
14182
ALLIANCE OF COCOA PRODUCING COUNTRIES, NATIONAL ASSEMBLY COMPLEX,
TAFAWA BALEWA SQUARE, P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234-70-9814-1735; +234-70-9814-1736;
FAX: +234-1-290-4262 Email: econs@copal-cpa.org Website: www.copal-cpa.org
5
Thursday
6th December
Month
Open
0
2420
2429
2439
2437
2423
2440
2455
0
0
Dec 2012
Mar 2013
May 2013
Jul 2013
Sep 2013
Dec 2013
Mar 2014
May 2014
Jul 2014
Sep 2014
Average/Totals
Friday
2012
Price
2473
2420
2428
2434
2436
2438
2442
2448
2450
2453
Change
13
0
1
1
1
1
0
-1
-1
-3
High
0
2433
2440
2439
2440
2438
2447
2455
0
0
Low
0
2398
2407
2414
2418
2420
2423
2454
0
0
2442
7th December
Month
Dec 2012
Mar 2013
May 2013
Jul 2013
Sep 2013
Dec 2013
Mar 2014
May 2014
Jul 2014
Sep 2014
Open
0
2420
2427
2433
2436
2412
2445
0
0
0
Volume
0
10,413
1,891
467
109
90
130
50
23
23
13196
2012
Price
2471
2412
2420
2427
2430
2432
2437
2443
2445
2448
Change
-2
-8
-8
-7
-6
-6
-5
-5
-5
-5
High
0
2432
2438
2437
2436
2420
2445
0
0
0
Low
0
2387
2395
2404
2407
2411
2422
0
0
0
Volume
2
10,402
1,857
758
331
23
35
1
1
0
Average/Totals
2437
13410
Average for the week
2437
2438
2438
ALLIANCE OF COCOA PRODUCING COUNTRIES, NATIONAL ASSEMBLY COMPLEX,
TAFAWA BALEWA SQUARE, P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234-70-9814-1735; +234-70-9814-1736;
FAX: +234-1-290-4262 Email: econs@copal-cpa.org Website: www.copal-cpa.org
6
News
NEWS
Health and Nutrition
5 healthy hot cocoa recipes
Mother Nature Network
By Melissa Breyer
Nov 28 2012
Kick the chemicals out of your hot cocoa with these creamy chocolicious concoctions (including vegan and
sugar-free options).
If there were a contest for the most comforting thing in the world, hot
cocoa would surely be in the running for the crown, along with teddy
bears, cozy sweaters and the occasional brandy-filled flask. Hot cocoa
warms a winter-chilled body, incites nostalgic reverie, and has the
ability to hit the spot like few other libations. And beyond that, as
counter-intuitive as it may sound, it can be abundantly healthy — as in,
possessing three times more antioxidants than green tea! (Get the whole
skinny here: 7 health benefits of drinking hot cocoa.) Hot cocoa is one
of the best ways to get chocolate’s antioxidants, but unless you are
using a healthy recipe, the benefits of cocoa’s powerhouse nutrients can be negated by the ill effects of too much
sugar and a host of synthetic ingredients.
The main ingredient in most commercial hot cocoa mixes is sugar, followed by corn syrup, with actual cocoa
hiding somewhere in the middle of the list of disturbingly polysyllabic ingredients. In fact, a look at the nutrition
panels of the most popular brands reveals a whole hodgepodge of ingredients that just have no business being in
a simple cup of cocoa. Case in point? Hydrogenated coconut oil, partially hydrogenated palm oil, gelatin,
artificial flavor, sodium hexametaphosphate, blue 1, dipotassium phosphate, sodium aluminosilicate, sucralose,
sodium phosphate, and acesulfame potassium, to name a few. Who wants a hot cup of that?
In the United States, the terms hot cocoa and hot chocolate seem to be used interchangeably, but there actually is
a difference. Hot cocoa is made by dissolving cocoa powder in a hot water or milk, while hot chocolate involves
melting a piece of chocolate into the hot liquid. Drinking chocolate, which is often what hot chocolate is called
in Europe, is the same as hot chocolate. Hot chocolate yields a richer drink than hot cocoa because chocolate has
cocoa butter in it, so there is more fat. Cocoa powder has the fat removed, so it’s a healthier way to get the all
the salubrious nutrients which chocolate offers — but with these recipes there is no richness sacrificed.
In all of the recipes here you can play around with the proportions, adding more or less sweetener as you prefer
— and you can also mix and match the milks, as these were developed so that either dairy or nut milks could be
used. All of these will yield one regular or two small servings, you can double or quadruple as desired.
1. Traditional Hot Chocolate
This is the only one of the group here that includes chocolate pieces, which as mentioned before creates a
beverage with more fat. That said, this recipe will yield a beautiful cup of hot chocolate that will still be better
for you than a chemical- and preservative laden cup made from a crummy instant mix.
1 cup milk (or nut milk); 1/2 vanilla bean, split; 3 ounces semisweet or milk chocolate, cut into small pieces
Heat milk to scalding in a medium saucepan, add vanilla, and let steep with the heat off for 10 minutes. Strain
and return milk to saucepan to reheat milk. (You can use 1/4 teaspoon vanilla extract instead and skip the
steeping process.) Whisk in chocolate until melted and frothy. Serve, savor.
ALLIANCE OF COCOA PRODUCING COUNTRIES, NATIONAL ASSEMBLY COMPLEX,
TAFAWA BALEWA SQUARE, P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234-70-9814-1735; +234-70-9814-1736;
FAX: +234-1-290-4262 Email: econs@copal-cpa.org Website: www.copal-cpa.org
7
2. Dried Plum Cocoa
Okay, okay. Yes, you could call this one the “hot prune smoothie,” but we’re going to stand by it anyway. After
all, if the French can make Pruneaux d’Agen (the decadent prune and chocolate cake) then we can make
pruneaux d’ cocoa, by golly. (We’re just going to follow the lead of the prune industry and rename it dried plum
cocoa.) The truth is, this one is so thick and rich it’s closer to drinking chocolate, and instead of sugar’s empty
calories, you get a healthy dose of fiber, antioxidants, vitamins and minerals.
1 cup almond milk (or regular milk); 3 medium plums; 2 tablespoons dark cocoa powder; 1 pinch of salt; 1/4
teaspoon vanilla
Put all ingredients in the blender and puree until very smooth, gently heat in a pot on the stove. Voila.
3. Coconut Hot Cocoa
Somehow, mixing the products of a tropical tree — coconut milk and dates — just seems all wrong for making
the perfect drink for a blizzardy afternoon. And it’s true this one may not be the best if you’re considering food
miles. But for dairy-free, sugar-free, nut-free diets this recipe may be as close as you get to cocoa nirvana. And
for anyone else, if you’ve got the ingredients, this version is super salubrious and delicious.
3 tablespoons canned coconut milk; 3/4 cup water; 3 soft pitted Medjool dates; 1 tablespoon cacao powder
Dash of cinnamon
Put all ingredients in the blender and puree until very smooth, gently heat in a pot on the stove. Sip and dream of
the tropics.
4. Maple Cocoa
Maple syrup is one of a wholesome-cooking cook’s best-kept weapons in avoiding refined sugar. It not only
adds a punch of sweetness, but that special almost-smoky maple taste adds incredible depth to baked goods and
sweets that are hearty in flavor (meaning, great with chocolate and nutty things, not so good for angel food
cake). This one is nice with the neutral flavors of regular dairy, but you can use any alternative milk you’d like
as well.
1 cup milk; 2 tablespoons cocoa; 1 tablespoon maple syrup; 1 teaspoons vanilla extract; 1 pinch of salt
Combine ingredients in a medium pot and warm on medium-low heat, whisking until frothy and hot.
5. Mexican Hot Cocoa
The original chocolate beverage lauded by the Mayans was a bitter spicy slurry drunk cold and nothing like the
Swiss Miss we have come to rely on. Hot cocoa in Mexico and other southern realms retains the heat, which is
very clever since chocolate and spice go together as well any pair of flavors possibly could.
1 cup soy milk (or regular milk); 1 tablespoon Sucanat (see note); 2 tablespoons cocoa powder; 1/2 teaspoon
vanilla extract; 1 pinch of salt; 1 pinch of cinnamon; 1 pinch (or more, go crazy!) of cayenne
Combine ingredients in a medium pot and warm on medium-low heat, whisking until frothy and hot. Say
"salud" to the Mayans for bringing us drinkable chocolate.
Note: Sucanat is the trade name for “Sugar Cane Natural,” a non-refined cane sugar that is made by crushing
sugar cane, extracting the juice then heating and drying it. It’s a more wholesome sweetener than refined sugar –
but if you don’t have it, agave syrup, stevia, or regular sugar can be used instead.
Health benefits of hot cocoa
Examiner.com
By: Teresa Tanoos
December 1, 2012
ALLIANCE OF COCOA PRODUCING COUNTRIES, NATIONAL ASSEMBLY COMPLEX,
TAFAWA BALEWA SQUARE, P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234-70-9814-1735; +234-70-9814-1736;
FAX: +234-1-290-4262 Email: econs@copal-cpa.org Website: www.copal-cpa.org
8
Chocolate is good for you
Dark chocolate has long been known to have health benefits, and recent
studies show that hot chocolate has health benefits as well. Researchers of
a study at Cornell University found that a mug of hot cocoa had nearly
twice the antioxidants as a glass of red wine, and up to three times the
antioxidants as a cup of green tea, according to an article that will be
published in the Dec. 3 issue of the Journal of Agricultural and Food
Chemistry.
Antioxidants are substances that may protect cells from the damage caused by unstable molecules known as free
radicals. While other studies have shown a high concentration of antioxidants in red wine, the Cornell study
found the concentration of hot cocoa was nearly double that of red wine – and, compared to black tea, cocoa had
up to five times the concentration of antioxidants.
The results surprised the study’s lead author, Chang Yong Lee, a professor of food chemistry at Cornell. "I
didn't expect cocoa (to be) that high. I thought cocoa was close to tea," Lee said.
Lee said that the idea for the study began 18 months ago after a coffee break discussion among graduate
students, which then led to formal research.
Among the beverages tested in the formal research were: 1) a cup of hot water with two tablespoons of pure
cocoa powder roughly equivalent to the amount of cocoa in a packet of instant hot chocolate; 2) a cup of water
containing a standard size bag of green tea; 3) a cup of black tea; and 4) a glass of California Merlot.
Lee also said that, for those worried about hot cocoa's calorie content, they can cut down by using skim milk and
artificial sweeteners. He added that natural foods like fruits and vegetables are also rich in antioxidants, and so
far no research has shown people can consume too many of them.
Accordingly, Lee envisioned "a cup of hot chocolate in the morning, and then noon time after lunch have green
tea, and evening have a glass of wine. That's a good combination," he said. "You have the enjoyment of the
beverage and you have a decent amount of antioxidant in your body."
As for the health benefits of dark chocolate, studies show it can help lower blood pressure, increase blood flow
and boost mood. But keep in mind that it’s calorie-rich. Experts therefore advise eating only about 100 calories
of dark chocolate per day.
Contrary to popular belief, chocolate does not have a lot of caffeine. Compared to 137 milligrams of caffeine in
an eight ounce cup of coffee, a typical chocolate bar only has one to 11 milligrams.
To further boost the health benefits of hot cocoa, use skim or low-fat milk. You can also try mixing it with
soymilk to cut calories. Instead of sweetening it with sugar, try one of the natural, zero-calorie weeteners on the
market like Stevia, which doesn’t lose its sweetened when heated, cooked or baked.
Benefit6 Whole Body Protection, a new product by I do strive LLC, made with clinically proven
ingredients to enhance brain function and cognitive abilities
San Francisco Chronicle
By Rancho Palos Verdes, CA (PRWEB)
December 3, 2012
Pure Cocoa along with DHA and EPA improve brain function and may lesson the affects of aging on cognitive
abilities according to recent studies
Benefit6 Whole Body Protection by I Do Strive, LLC is the first product to focus on six key areas of health to
provide the most comprehensive whole body protection supplement available including improved brain function
and cognitive abilities. Ingredients including pure cocoa powder and omega-3 have been clinically proven to
enhance brain function.
ALLIANCE OF COCOA PRODUCING COUNTRIES, NATIONAL ASSEMBLY COMPLEX,
TAFAWA BALEWA SQUARE, P.O. BOX 1718, LAGOS, NIGERIA. TEL: +234-70-9814-1735; +234-70-9814-1736;
FAX: +234-1-290-4262 Email: econs@copal-cpa.org Website: www.copal-cpa.org
9
According to a study published in Physiology Behavior, “In a randomized, double-blind placebo controlled trial,
63 middle-aged volunteers aged between 40 and 65 years were administered a daily chocolate drink containing
250 mg or 500 mg cocoa flavanols versus a low cocoa flavanol (placebo) drink over a 30-day period.
Participants were tested at baseline as well as at the end of the treatment period on a test of Spatial Working
Memory. Steady State Probe Topography (SST) was used to assess neurocognitive changes associated with
cocoa flavanol supplementation during the completion of the Spatial Working Memory task.”
The study concluded that differences in brain activation can be interpreted as evidence of increased neural
efficiency in spatial working memory function associated with chronic cocoa flavanol consumption.
In another study by the Journal of Psychopharmacology, “Cocoa flavanols (CF) positively influence
physiological processes in ways that suggest their consumption may improve aspects of cognitive function. This
study investigated the acute cognitive and subjective effects of CF consumption during sustained mental
demand. In this randomized, controlled, double-blinded, balanced, three period crossover trial 30 healthy adults
consumed drinks containing 520 mg, 994 mg CF and a matched control, with a three-day washout between
drinks. Assessments included the state anxiety inventory and repeated 10-min cycles of a Cognitive Demand
Battery comprising of two serial subtraction tasks (Serial Threes and Serial Sevens), a Rapid Visual Information
Processing (RVIP) task and a 'mental fatigue' scale, over the course of 1 h. Consumption of both 520 mg and
994 mg CF significantly improved Serial Threes performance. The 994 mg CF beverage significantly speeded
RVIP responses but also resulted in more errors during Serial Sevens. Increases in self-reported 'mental fatigue'
were significantly attenuated by the consumption of the 520 mg CF beverage only. This is the first report of
acute cognitive improvements following CF consumption in healthy adults. While the mechanisms underlying
the effects are unknown they may be related to known effects of CF on endothelial function and blood flow.”
Benefit6 is formulated to provide Whole Body Protection by focusing on key areas of health, including brain
function, cardiovascular health, weight loss, energy production, inflammation reduction and antioxidant support.
Benefit6 is conveniently packaged for optimal use and results.
Benefit6
Consumption of cocoa flavanols results in acute improvements in mood and cognitive performance during
sustained mental effort.
Production & Quality
Mondel to invest us$400 million under cocoa life in Asia Pacific
Bernama
Dec 01, 2012
JAKARTA, (Bernama) -- Mondel'z International has announced plan to invest US$400 million under a ten-year
sustainable cocoa programme called "Cocoa Life" in the Asia Pacific region.
"It is a good news for Indonesia," Indonesia's Antara news agency quoted Devy Yheanne, Head of Corporate
Affairs of Kraft Foods in Indonesia, as saying here on Friday.
Devy said Indonesia is included in the programme and it is important for the expansion of Mondel, formerly
known with the name of Kraft Foods, in the future. She said Cocoa Life is a bold ambition but for the producer
of chocolate it is important to change the life to a better condition of cacao growers in long term.
The investment is expected to encourage Indonesia to continue to grow to become the main player in sustainable
cacao production, she said.
Indonesia is currently the world`s third largest producer of cacao beans after Africa`s Ivory Coast and Ghana.
"We hope we could cooperate with other global players in developing cocoa-based industries," she added.
She said Mondel is in the process of studying possible investment in Asia Pacific such as in Sumatra, Sulawesi,
Papua Barat of Indonesia and Papua New Guinea and other countries in this region. She said Mondel'z
International has a high ambition to inspire younger generation of cocoa farmers.
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10
Mondel'z International has taken the initiative to carry out the programme of sustainable cocoa aimed at
improving the welfare of more than 200,000 cocoa farm families in the world.
UFP government to revolutionize cocoa industry
Vibe Ghana
December 1, 2012
Mr Fred Osei-Agyen, running-mate to the flagbearer of the United Front Party (UFP), said a UFP government
would revolutionize the cocoa industry to enable Ghana to regain its position as the leading cocoa producing
country in the world. Mr Osei-Agyen said this when he addressed some cocoa farmers at Elubo in the Jomoro
District of the Western Region.
According to him, “Operation Grow Cocoa” would be launched nationwide for massive cocoa growing in the
country and every household would grow a cocoa tree while the principal streets would also be decorated with
cocoa tress. “This will serve as tourist attraction and create opportunity for people to know the cocoa tree,” he
said.
Mr Osei-Agyen said cocoa cottage industries would be set up in cocoa growing areas to process the cocoa beans
into powder before sending them to the main factories for the manufacturing of other cocoa products. He said
this will create job avenues for the youth and help reduce the unemployment rate. He said a UFP government
would provide spraying machines and insecticides and other incentive free- of charge to cocoa farmers towards
increasing production and also entice the youth to venture into cocoa farming.
Mr Osei-Agyen said this would be done without neglecting other sectors of the economy and appealed to
Ghanaians to vote the UFP into power to build a strong economy and a prosperous nation. He later introduced
Mr Anthony Ackah Blay, UFP parliamentary candidate for the Jomoro Constituency and urged the people to
vote for him and the presidential candidate, Mr Akwasi Addai Odike on December 7.
The Market
Cocoa futures edge to 9-week high on supply-deficit outlook
Wall Street Journal
By Alexandra Wexler
December 3, 2012
NEW YORK--Cocoa futures rose to a nine-week high Monday as traders continued to price in expectations that
production would fall short of demand in the current marketing year.
"Industry is buying cocoa at these levels, which gives me the impression we could go much higher," said Hector
Galvan, a senior broker at R.J. O'Brien Futures in Chicago. The buying comes on the back of a report from the
International Cocoa Organization that projects the first supply deficit in three years for the 2012-13 season that
began Oct. 1. If production comes up short, cocoa users would need to draw down stocks from previous seasons,
which are currently estimated at 1.864 million metric tons.
Thinly traded cocoa for December delivery settled 1% higher at $2,562 a ton Monday, while the more actively
traded contract for March delivery gained 0.8% to settle at $2,519 a ton, its highest settlement since Sept. 21.
"Hopes that demand will soon pick up again are mainly to blame for cocoa prices rising in New York,"
Commerzbank said in a note. "What is more, the main harvests that are currently underway in Ivory Coast and
Ghana have got off to a weaker start than they did last year."
The amount of cocoa arriving at the West African ports has been less than last year, due in part to wet weather
earlier in the season that delayed the drying of the beans, traders said.
Commerzbank added that top producers Ivory Coast and Ghana are reporting "problems with plant diseases."
However, two cocoa-market participants said they hadn't heard any reports of diseases being worse than usual
for this time of year.
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NY cocoa to retest resistance at $2,562
Business Recorder (blog)
By Asad Naeem
04 December 2012
cocoa beans 400
SINGAPORE: New York March cocoa is expected to retest a
resistance at $2,562 per tonne, a break above which will open the way
towards $2,626.
The resistance is at the 61.8 percent Fibonacci retracement on the fall
from the Sept. 6 high of $2,710 to $2,322. Cocoa has failed to clear this
barrier in its first attempt and has sought a support at $2,516, the 50
percent level.
Wave pattern indicates an upward wave (c) is unfolding. This wave could travel the same distance as the wave
(a), to arrive at $2,626, its 100 percent Fibonacci projection level. ** Wang Tao is a Reuters market analyst for
commodities and energy technicals. The views expressed are his own.
No information in this analysis should be considered as being business, financial or legal advice. Each reader
should consult his or her own professional or other advisers for business, financial or legal advice regarding the
products mentioned in the analyses.
Cocoa butter at 3-year peak on Ivory Coast subsidy woes
Business Recorder (blog)
Posted by Asad Naeem
06 December 2012
cocoa 400
SINGAPORE: Cocoa butter, a key ingredient for chocolates, extended
gains to its strongest ratios since early 2009 on year-end demand and
worries that Ivory Coast's decision to remove a subsidy to local
grinders could hurt output, dealers said on Thursday.
Butter was traded to European and Asian buyers this week at 1.90
times London futures , up from 1.85 times last week. Butter is a key ingredient for making chocolate, providing
its melt-in-the-mouth texture. "Demand is coming in from every corner, but people are not offering much
because the butter ratio simply goes higher every week," said a dealer in Singapore.
Ivory Coast, the world's largest cocoa producer, has abolished a 20-year-old subsidy to local grinders under
which they benefited from a reduced export tax, a move that could jeopardise future investment.
The move came even as the government is aiming to grind half of its cocoa bean production locally by 2015.
Currently around 35 percent of beans are processed locally.
"The main problem is the subsidy move in Ivory Coast. Everybody thinks grinders there will shut or slow down.
They have got a subsidy from the government for a while, but suddenly it has been withdrawn," said a dealer in
Malaysia.
"So the operation over there is no longer viable. People are panicking. Buyers in Japan, South Korea and Europe
are in the market."
In 2010, Ivory Coast became the world's top cocoa grinder with a capacity of 532,000 tonnes, turning beans
mainly into cocoa butter and powder
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More chocolate makers are also buying butter from Asia because of tight supply for nearby delivery after the
economic crisis in Europe cut grindings there by 16.2 percent in the third quarter from the same period last year
to 316,676 tonnes.
Ratios in Europe were at 2.08 times London futures for November/December delivery. Ratios in Asia, which
have risen as much as 90 percent this year, were last around these levels in early 2009, when they were offered
at about 2.0 times London futures.
When cocoa beans are processed they produce roughly equal parts butter and powder, which is also used in
chocolate, beverages and ice cream.
Since the two products move in opposite directions, higher butter ratios weigh on cocoa powder, which was
offered at between $3,000 and $3,300 a tonne, down from between $3,300 and $3,400 two weeks ago. "There
are always deals, but it's just that the powder market is not moving much," said another dealer in Singapore.
Chocolate sales normally surge in the main consuming regions of Europe and North America during the key
holidays of Christmas and Valentine's Day.
Processing & Manufacturing
Cargill halts Ivory Coast cocoa grinding expansion
MarketWatch
By Neena Rai @ neena.rai@wsj.com
Dec. 5, 2012,
U.S.-based agribusiness giant Cargill Inc. has put on hold plans to expand cocoa grinding operations in the Ivory
Coast, after the country's government announced changes to export levies.
Jos de Loor, President of Cargill's cocoa and chocolate division told Dow Jones Newswires in an interview that
although the West African region does have further growth potential for bean processing, the changes to the
export tax meant the company is unlikely to add capacity to its factory located in Abidjan, Ivory Coast.
Ivory Coast, the world's top producer of cocoa beans, is expected to levy an export tax on semi-finished cocoa
products based on their equivalent weight in beans, a change to the existing tax that currently is based on the
finished product.
Semi-finished cocoa is produced after the beans are roasted and ground. Semi-finished products include cocoa
butter, which is used to make chocolate bars.
Under widespread reforms to overhaul the Ivorian cocoa sector, the country aims to process half of the beans it
produces by 2015, but market participants have expressed concerns that changes to the export tax could deter
processing and rather favor exports of raw beans. The sector reforms also include forward-selling crops to allow
farmers a guaranteed price for their beans and imposing stricter quality standards.
However, Cargill said it remained optimistic for processing growth opportunities in Asia. "We plan to open a
processing factory in Indonesia. Expansion plans will begin during the second-quarter of 2014 as we see this
region as a real area for growth," Mr. de Loor said, but declined to comment on the capacity of the new factory.
In Asia, demand is growing. Earlier this year, the International Cocoa Organization said demand in the region
would likely rise 10% in 2012, due to higher disposable incomes and heavy advertising campaigns by chocolate
manufacturers there.
The emergence of Southeast Asia as a cocoa-processing hub could see the region process more than 1 million
metric tons of cocoa beans by 2015, likely exceeding West Africa, according to Ecobank estimates.
Meanwhile, Mr. de Loor said he expects the company's global cocoa grindings to rise by around 2.5-3.5% next
year and had no plans to scale down grinding operations at any factories. He added the global supply and
demand of cocoa would likely be in balance this season, as higher Asian demand will likely be matched by an
improvement in West Africa's mid-crop outlook.
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Business & Economy
$32m to import cocoa bags
GhanaWeb
December 5, 2012
Cocoa Beans
Cocoa remains Ghana’s largest export commodity and the highest
contributor to the country’s Gross Domestic Product (GDP). It is
estimated that for the past two years, the country has exported over
two million metric tons of the commodity.
Packaging (bagging) of cocoa is one area that the government can
develop in order to provide extra jobs for players in the cocoa
industry but the country is currently importing its cocoa sacs (bags) at an estimated cost of $1 per sac.
A ton of cocoa is equivalent to 16 bags. What this means is that, over the past two years, Ghana had spent $32
million to import cocoa sacs if not more.
The Progressive People’s Party (PPP) believes that cocoa could be one of the major areas that can generate jobs
for the masses and pledged that when given the mandate to rule, it will ensure that Kenaf, a raw material used
for the manufacturing of the cocoa sacs is grown in Ghana and also establish factory to manufacture it. “The
Progressive People’s Party (PPP) has identified some sectors in the economy that can create employment for the
youth in the country. The agricultural sector, which contributes significantly to the country’s Gross Domestic
Product (GDP) is one area that PPP government will concentrate on when given the mandate,” Samuel Ampah,
a Representative of PPP, has stated at a round-table discussion organized by CITIFM for political parties in
Accra recently.
Apart from the cocoa sector, Mr Ampah said his party will be relentless in providing the needed support to the
poultry industry, using low interest loans, technical assistance and tax incentives to enable poultry farmers
produce at full capacity and provide jobs to the country’s unemployed citizens.
The poultry industry currently employs a total of 600,000 people, but PPP says if the monthly importation of a
broiler which is about 150,000 – 200,000 metric tons is curbed, an average of 600 more jobs can be created.
To the do this, Mr Ampah said: “PPP government will discourage excessive imports of chicken by increasing
the tax element on import to protect the local market. Nigeria has successfully done this and they are better off
for it.” “We know critics will start the mantra of WTO, we are not ignorant of this, but we must all know that
the USA and all the other European countries who are also signatories to the WTO agreements protect their
local industries and we must do same,” he charged.
He further noted that the vertinary industry would be one of the top priorities of the PPP administration if given
the nod. The party intends to initiate a graduate training policy where unemployed graduates will be given the
opportunity to retrain in areas where there is shortage of manpower such as veterinary to strike a good balance
between human resource shortage on one hand and unemployment on another hand.
The PPP thinks constructing good roads that link farms to market centers, and providing a ready market for
farmers would help open up regions for investments and employ more people. “One way to provide ready
market is to ensure that all basic schools on the school feeding program as well as Senior High Schools
patronize strictly made in Ghana commodities for cooking. Ministries, Departments and Agencies will also be
instructed to consume strictly made in Ghana beverages/foods for refreshments of all their programs,” Mr
Ampah stated.
He added: “The Bolgatanga meat factory and tomato factory are one of those to be revamped to provide jobs for
the people. The PPP administration will ensure that each region is specialised in the production of at least one
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14
product in commercial quantities to provide employment at the regional level and curb the trend of rural urban
migration.”
Labour Issues
Environmental Issues
Research & Development
Cocoa Foundation selects researchers for us study
Voice of America
December 03, 2012
Seven research scientists, from Africa, Asia and Latin America, will come to the United States next year to
study cocoa production. They were chosen by the Washington-based World Cocoa Foundation and the U.S.
Department of Agriculture for two- to three-month fellowships.
The effort is part of the Global Cocoa Initiative of the WCF and U.S. Department of Agriculture’s Norman E.
Borlaug International Agricultural Science and Technology Fellowship program.
The scientists are from Costa Rica, Ghana, Vietnam, the Philippines and three from Cote d’Ivoire, the world’s
largest producer of cocoa beans.
While in the United States, they’ll work with a mentor at research labs at the U.S. Department of Agriculture in
Florida or Maryland, or with universities. In the past, they have included the state universities of Wisconsin,
Florida, Pennsylvania and Tennessee, as well as Rutgers University in New Jersey.
Virginia Sopyla, a program manager with the World Cocoa Foundation earlier in Washington, said "[Fellows]
will work with a mentor on developing technical research skills, and they will also complete a tour the U.S. side
of the cocoa supply chain. So, they can learn about how cocoa is brought into the U.S., how it’s stored and
warehoused, processed and manufactured into chocolate products."
"Then six months to one year after the completion of the fellowship, the fellow’s mentor has the opportunity to
visit him or her at the home [research] institution in the producing country for a follow-up visit of up to one to
two weeks."
During their stay in the United States, the fellows will conduct research on issues affecting the growth and
production of cocoa, including crop diseases and insect pests.
The African researchers are expected to study cocoa swollen shoot virus, a disease common to West Africa. It’s
transmitted by the mealybug and can kill cocoa trees within three years.
They are also expected to study black pod rot, a fungus found in much of the world’s cocoa producing regions.
Fellows from Asia will look at Helopeltis, or mirids, an insect pest affecting cocoa pods and young shoots in
Vietnam. They’ll also look at the management and the intercropping of cocoa and coconut in the Philippines.
Sopyla said a number of past fellows have continued their work with US mentors long after the end of their
fellowships. "We had a fellow from Nigeria who was studying a nematode pest," she explained. "These are very
small worms that feed on the roots of the cocoa seedling roots. With his mentor he was able to identify the
species of nematode that was affecting their plants and then was able to conduct some studies on using poultry
manure [in compost] to control the [hatching of nematode eggs]. He conducted those studies here in the lab in
the U.S. and then when he returned to Nigeria he continued this work and is now able to share that learning with
farmers."
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World Cocoa Foundation officials add that getting the word out to farmers is an important part of the
organization’s work.
An integral part of the effort is using new and affordable technology.
One program, called Cocoa Link, allows farmers to share ideas and ask questions using cell phone text
messaging.
Another, called Digital Green, teaches farmers to film or videotape training sessions, which can then be shared
with fellow farmers.
Bill Guyton, the president of the WCF, said "the farmers] show the videos later on these very small devices that
can be used at night and on the walls of homes to show and reinforce some of what they’ve learned during
farmer training."
"The technology was adapted first in India and is being pilot tested through the WCF Cocoa Livelihoods
Program [a collaborative effort with the Bill &Melinda Gates Foundation targeting 200,000 households in
Ghana, Cote d’Ivoire, It’s been used on other crops before but this is the first time we’ve tried using this
technology in the cocoa sector…so we’re very excited about what it’s going to deliver."
The World Cocoa Foundation represents over 100 chocolate companies and others in the supply chain working
to support sustainable cocoa production. Guyton says the WCF’s work in farmer outreach is showing promising
results and is an important part of the effort to improve farm productivity – and incomes.
Promotion & Consumption
Best hot chocolate in Chicago: where to warm up with the tastiest cups of cocoa
Huffington Post
11/30/2012
Chicago Restaurants, Best of Chicago, Chicago Around Town, Video, Best Food Chicago, Best
Hot Chocolate, Best Hot Chocolate Chicago, Chicago Best Hot Chocolate, Julius Mienl Chicago,
Mindy's Hot Chocolate Chicago, Rick Bayless Xoco, Walnut Room Chicago, Xoco Chicago,
Chicago News
Mindy's Hot Chocolate in Bucktown tops the list of best places to grab cocoa
in Chicago. (Facebook/Mindy's Hot Chocolate)
Around this time of year, the mercury predictably drops, the wind kicks up
and winter weather sends Chicagoans running for the nearest cup of cocoa.
Coffee, teas and toddies are great when the cold hits, but everyone from kids to teetotalers to the jitters-averse
can share in chocolate. Luckily, Chicago has some fantastic places to grab a steaming mug, including one that
ranks among the nation's best.
When a dusty pack of Swiss Miss won't cut it, chocolate lovers can explore any number of top-notch cocoa
slingers--and check out the ever-growing popularity of the super-thick Mexican and Spanish-style sipping cocoa
along the way.
Upscale, low-key, simply or trendy, there's a chocolate spot for just about everyone around town. The
Huffington Post churned up a few of the best picks from across the city to help banish the winter chill and get
the most decadence possible into one cup.
The sweet rise of Savannah’s artisan chocolatier
Connect Savannah.com
By Jessica Leigh Lebos
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16
December 04, 2012
If life is really like a box of chocolates, then please Lord, let them be made by Adam Turoni.
The Pennsylvania native opened Chocolat by Adam Turoni in October, showcasing his exquisite line of original
confections: Bacon–flecked toffee. Gold–dusted truffles. Sea salt–flaked caramels filled with local honey. Could
one do better than to compare our enigmatic existence to these edible jewels?
Located on the west end of Broughton Street, the whimsical retail space also serves as Turoni’s workshop. He
can often be seen wielding a wooden spoon as shoppers browse, collecting their candies on silver trays. Melding
a formal culinary education with giddy adoration for innovative ingredients, Turoni approaches his craft with
the passion of an artist and the skill of a scientist.
“Chocolate is a challenge, and I love challenges,” grins the dapper chocolatier, dressed in dark yellow chinos
and a crisp oxford shirt. “I make a lot of work for myself, but it’s worth it to see people’s faces.”
Case in point: In front of the marble counter, he carefully prepares a cup of his signature hot chocolate — a
creamy chocolate spoon stirred into steamed milk — and waits patiently for it to melt. Then he tops it with a
few shavings of fresh nutmeg, followed by a crumble from a rosy block of Himalayan sea salt.
“There aren’t many industries that make people light up as they come in the door,” he says, satisfied as his
visitor sips with a squeal. “Giving people instant gratification, it never gets old.
Though he talks animatedly about molecular gastronomy and habeñero peppers, Turoni traces his enthusiasm
back to where many have discovered their sweet tooth: In his grandmother’s kitchen.
“We would drink tea and bake cookies and stay up decorating them until three or four o’ clock in the morning,”
he recalls with a smile. “From there, I knew this is what I wanted to do.”
At just 23, Turoni may appear an ingenue in the culinary scene, but his chops have been refined for almost a
decade: He got his first restaurant job at the questionably legal age of 14, working on the pastry line of the
renowned Isabella restaurant through his high school’s tech program. At 17, he was promoted to head pastry
chef. He left after graduation to attend the Culinary Institute of America in New York City, where he studied
with chocolate pioneer and James Beard Award winner Peter Greweling.
Greweling was working on his second cookbook and invited Turoni and a handful of others students to help
with early morning research–and–development sessions before class — an experience that crystallized the
young chef’s interest in the dark ambrosia: “We’d brew our coffee, put on some music, and work in complete
silence. It was life–changing.”
During his CIA internship, Turoni also spent six months in the San Francisco Bay Area studying with another
culinary hero: the legendary Alice Waters. The Chez Panisse chef, who spearheaded the farm–to–table
movement and revolutionized America’s fine dining scene with her insistence on fresh, seasonal ingredients,
made a lasting impression.
“She changed people’s ideas about food and showed them how important community is,” says Turoni, who
keeps a framed photo of himself and Waters in his office. “I learned how to shop locally, to value quality over
mass production.”
True to his mentor’s values, he began forging relationships with local suppliers the day he arrived in Savannah
with the aim to become the city’s only artisanal chocolatier. Using honey from the Savannah Bee Company and
coffee beans from PERC, he quickly built a wholesale business: Local chocolate connoisseurs already know
Turoni’s delectable work from Wright Square Café, where he supplied the shelves for several years. Working
out of a DeSoto Row kitchen in the Starland District, his comrades were custom coffee roaster Phillip Brown
and independent wine dealer Christian Depken of Le Chai.
“We would sit and talk about food twenty four–seven,” he laughs.
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Turoni also made the rounds on the private party circuit, enticing the city’s most influential palates. He created a
special music–themed candy for the Savannah Philharmonic and found a fan in ice cream mogul Stratton
Leopold, who introduced him to Paula Deen. Recognizing Turoni’s talents, Deen persuaded her producers to
include him on an episode of her Food Network show, and sells his bonbons in her Congress Street shop.
“I think if you surround yourself with people who are inspiring and want to succeed, you’re going to achieve
your goals,” he reflects.
As demand grew, Turoni knew there was a retail market for his wares. After years of bartending in between
gigs, he finally amassed the capital to open his dream shop. He signed the lease a few days before his 22nd
birthday, and his grandma was there on opening day, wrapping caramels and tying ribbons.
“I spent two years doing wholesale and that gave me time to build the brand,” Turoni says, pointing out a
shimmery piece of almond bark in the shape of a lion’s head, a mold he created from an antique doorknob. “I’ve
worked so hard, there was nothing to be scared about.”
Longtime Savannah tastemaker Alexandra Trujillo de Taylor (who designs under the nom de guerre Duchess of
State) helped him choose clean gray walls and empty frames, setting off the space with green turf grass and a
chimerical grandfather clock. It evokes at once a vibrant modernity and the elegant air of a classic French salon,
what might have transpired if Willy Wonka had been a Brooklyn hipster.
As the holidays approach, he’s been logging late nights in the shop to keep the antique cabinets filled with
seasonal delights like the Spiked Eggnog, a tiny white chocolate cup filled with mousse and sprinkled with
fresh–grated nutmeg, finished with a tiny chocolate straw. There are also the perennial favorites to stock,
including his ever–popular roasted fig–and–cognac truffles. And no matter what the foodies in New York sniff
about bacon being “over,” no one can seem to get enough of his Bacon Butter Pecan Toffee.
But Turoni is young and full of energy for chocolate, buzzing to keep pushing Savannah’s sweet tooth forward.
While not every experiment goes well (a root beer truffle remains elusive), he hopes to perfect a champagne
treat that retains its flavor. And though his speedy success has already spawned requests for expansion, he
remains level–headed.
“I’m not trying to be a millionaire. Maybe I’ll open another store someday, but it’s not about the money,” he
says thoughtfully, stirring his chocolate spoon in a china teacup.
“It’s about keeping up with people’s demand for instant gratification — and giving it to them.”
Related tags: adam turoni, artisan chocolate savannah, bacon toffee, chocolat by adam turoni, chocolate
savannah, paula deen, truffles savannah
Others
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18