Industry News

Indonesia cocoa output to drop over 10 pct in 2017/18

Indonesian cocoa production is likely to fall over 10 percent in the year to Sept 2018 following a deep slide in prices, a leading trader told Reuters.

Asia’s biggest cocoa producer, will  produce some 240,000 tons in 2017/18, down from 270,000 tons a year ago, Paul Davis, deputy head of cocoa at French commodity trader Sucden said in an interview.

New York cocoa is trading around 40 percent below a peak of $3,422 a ton in December 2015, largely dragged down by a glut in supply following bumper crops.

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