Cocoa prices fall on Europe concerns
ProcurementLeaders.com - Dec 8th 2011, 08:54
Cocoa has hit its lowest level since December 2008 on the back of the sovereign debt crisis in Europe and increased supplies from West Africa according to commodity analysts familiar with the industry.
Europe is one of the biggest markets for cocoa beans which are used to produce chocolate, making up in the region of 40% of global demand but because of a slowdown in the regions consumption and a bumper crop prices have been declining.
Speaking to the Financial Times, Keith Flury, commodity analyst at Rabobank, said "The cocoa bean market is vulnerable to economic contraction," adding that consumption of the bean fell in 2008 after the previous financial crisis.
Cocoa prices hit a high last year because of an export ban in the Ivory Coast and a disappointing crop haul.
On Monday the benchmark Liffe March contract hit £1,414 a tonne, 42% down from last year's peak.
Multi-million rand Rustenburg Mall underway
09/09/2019 - 11:07
Rustenburg shoppers can look forward to a brand new shopping centre – Rustenburg Mall – set to introduce its first phase in April 2021.
Introducing the Cape Fine and Rare Wine Auction
23/08/2019 - 10:07
With the world market increasingly focused on the fine and rare wines from South Africa, the Cape Winelands is in a stronger position than ever to showcase its fine wine investments. This year, the Cape Winelands is proud to host its first-ever Cape Fine & Rare Wine Auction, an evolution of the historic Nederburg Auction in 1975.
Boost for SA's economy as China lifts its beef ban
07/08/2019 - 09:10
Within one month of the meeting between President Cyril Ramaphosa and President Xi Jinping at the G20, China has announced that it is lifting the ban on South African beef exports to China. This will be a major boost to South Africa’s economy given that China is the largest consuming market for South African beef and related products.
South Africa’s economy ‘doesn’t have a long time’
02/08/2019 - 12:57
South Africa’s outlook has been dealt several heavy blows following Eskom’s financial results, and the latest unemployment data, which has raised the question: where to from here?
Nestlé finds a new way to sweeten chocolate without added sugar
18/07/2019 - 10:13
Nestlé SA has found a way to create chocolate without adding any sugar, relying on leftover material from cocoa plants for sweetening as consumers look for natural and healthier fare. The food company is using a patented technique to turn the white pulp that covers cocoa beans into a powder that naturally contains sugar.