• Short Summary

    The world's number one producer and exporter of cocoa, the Ivory Coast, has withdrawn from the international cocoa market.

  • Description

    The world's number one producer and exporter of cocoa, the Ivory Coast, has withdrawn from the international cocoa market. The Ivory Coast stopped exporting after a drastic downward trend in the price of cocoa. The harvest, which officially began on the second of October, will be stockpiled.

    SYNOPSIS: The decision by the top exporter of cocoa came in the eve of the third conference to negotiate a new international cocoa agreement. The objectives of the conference are to help maintain and even raise the incomes of member producing countries. By doing this, the conference hoped to encourage increasing production to bring the export income needed to meet its members' needs for economic and social development.

    Official sources said that this half-yearly harvest is about a month late, owing to poor weather conditions this summer. This crop is expected to yield about one hundred and seventy thousand tons up to next January (1980).

    The Ivory Coast's production has surpassed the previous top world producer, Ghana, during the past two years, by the margin of about fifty tons. Ivory Coast has a storage capacity of only one hundred thousand tons.

    The Ivory Coast's production has surpassed the previous top world producer, Ghana, during the past two years, by the margin of about fifty tons. Ivory Coast has a storage capacity of only one hundred thousand tons. It was expected that when this capacity is full there will be pressure to export the remaining quantity.

    The third cocoa producers' conference takes place in Geneva next November, and cocoa producing countries hope they will then get a better price.

  • Tags

  • Data

    Film ID:
    VLVAAPDFW2X31LXILE6VRW2C30PWO
    Media URN:
    VLVAAPDFW2X31LXILE6VRW2C30PWO
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    26/10/1979
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:44:00
    Time in/Out:
    /
    Canister:
    N/A

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