NY COCOA Forecast for today, April 28, 2011

SINGAPORE, April 28, 2011 - New York cocoa will rise more to $3,255 per tonne, as the current wave has not completed.
 

A surge on Wednesday has confirmed an upward wave "C", progressing towards the 100 percent Fibonacci projection level at $3,255, based on the length of the wave "A".
 

The upside of the wave "C", however, could be extended to $3,400, the 161.8 percent Fibonacci projection level, should the resistance at $3,255 be cleared.
 

There may not be a retracement before $3,255, as the strong bullish momentum gained during the previous trading session may continue to push cocoa up.
Source: reuters

NY coffee ( arabica ) Forecast for today, April 28, 2011

SINGAPORE, April 28, 2011 - New York coffee is biased to rise to $3.06 per lb, as the current consolidation may develop into a bullish flag pattern.
 

Strategically, the pattern will be confirmed when coffee rises above a resistance of $2.9850, derived from the upper channel line of a descending channel.
 

But a fall below $2.93 will invalidate the bullish outlook as a bearish target at $2.8895 will be established based on a double-top.

Source : Reuters

Forecast : Indonesia '11 cocoa exports may drop 12.5pct, more falls seen

JAKARTA, April 28, 2011 - Cocoa exports from Indonesia, the world's No.3 producer, may fall as much as 12.5 percent this year due to wet weather hitting output, and is set to drop further in 2012 on rising domestic consumption, the Indonesian Cocoa Association said on Wednesday .

Cocoa exports from Southeast Asia's largest economy will be between 280,000 tonnes and 300,000 tonnes this year, down from 320,000 tonnes in 2010, Zulhefi Sikumbang, chairman of an association known as Askindo, told a news conference.

Indonesian production will be flat at about 600,000 tonnes this year, as increased output from new planting offsets the impact of heavy rains, Askindo said last month.

NY coffee Cocoa market close review for today, April 27, 2011

COFFEE

* July arabica coffee futures reversed to close up  0.10 cent at $2.9640 per lb.
 

* Contract remained near last week's 34-year peak at  $3.0250 per lb.
 

* Market eased for most of the day on pressure from the commodity complex, which fell as investors took profits ahead  of the policy statement from the U.S. Federal Reserve -  traders.

LONDON Coffee and Cocoa market close review for today, April 27, 2011

* Liffe July robusta coffee rose $34 to close at  $2,536 a tonne after setting a contract high of $2,555. Robustas  finally gained some ground on the arabica market following a  prolonged decline in its relative value.

* Liffe July cocoa ended 20 pounds higher at 1,927  pounds a tonne. Traders are monitoring the situation in top  grower Ivory Coast, where the cocoa sector is set to resume  operations within days following a violent post-election  conflict.
Source : Reuters

Cocoa Brazil Delivery Up 12 %

BRASILIA, April 27, 2011 - Deliveries of cocoa to warehouses from the main growing regions in Brazil were up 12 percent from a year ago, with just one week left before the 2010/11 season ends, Bahia Commercial Association data showed on Tuesday.

Cocoa deliveries have slowed to a trickle in the lull between the end of the main crop and the start of the forthcoming mid crop which should begin harvesting in May or June depending on the region.

The mid crop in the top cocoa state Bahia is likely to fall about 15 percent from last year's to around 1.1 million 60-kg bags (66,000 tonnes), though output has been climbing in other states and may compensate if the trend continues next season.

Fotecast : Indonesia Vietnam and Thailand Coffee for today April 27, 2011

INDONESIA

SUMMARY- Additional showers and thundershowers yesterday, 0.10-1.50+ inches (3-38+ mm). Temperatures 78-94F (26-34C).

FORECAST-

TODAY...Tropical showers and thundershowers likely, rainfall amounts 0.25-1.25+ inches (6-32+ mm). Temperatures 77-94F (25-34C).

TONIGHT...Showers diminish overnight.

Italians keep drinking coffee despite price rises

MILAN, April 26, 2011  - Italians keep drinking coffee, despite rising prices, and this year they are consuming as much or even slightly more than in 2010 although they have more at home to save money, a senior industry official said.

Italy is one of Europe's major coffee markets, using about 5.7-5.8 kg per head and with total consumption of 5.8 million 60-kg coffee bags in 2009, according to data from the International Coffee Organisation (ICO).

Italy's coffee demand eased 0.2-0.3 percent in 2010 but is set to stabilise this year, Gianluigi Sora, chairman of Istituto Nazionale Espresso Italiano (INEI) industry body told Reuters on Tuesday.

Forecast : Ecuador 11/12 coffee output to 'remain steady'

WASHINGTON, April 27, 2011 - Following are selected highlights from a report issued by a U.S. Department of Agriculture attache in Ecuador:

"Coffee production for MY 2011/12 will remain steady at 650,000 60-Kg. bags. This is the result of increasingly higher yields resulting from the adoption of better agricultural practices by young new entrepreneurial farmers, offset by

overall decaying plantations that urgently need to be renovated. 

Since 2005, Ecuador has renovated or added almost 16,000 hectares dedicated to coffee but has switched production of at least 12,000 ha.

Ivorian cocoa mid-crop boosted by fine weather

ABIDJAN, April 27, 2011- Patchy rains and sun in Ivory Coast's cocoa growing regions last week was good news for the development of the April-to-September mid-crop, farmers and analysts said on Tuesday.

Traders are eyeing the mid-crop in the world's top cocoa producer, with several exporters forecasting between 250,000 and 300,000 tonnes reaching port -- where warehouses are already brimming with tonnage delayed by a violent political struggle.

A top cocoa sector official told Reuters on Tuesday he expected exports to resume in the coming days, once a disute over customs payment arrangements is settled.

outlook : Q&A-What is the latest on Vietnam's 2011/2012 coffee production?

HANOI, April 27, 2011 - Farmers in Vietnam's Central Highlands have nearly finished their last phase of tree watering for the 2011/2012 harvest, while rains have started falling as the country transitions into the rainy season.

Following are some questions and answers on the current stage of coffee production in Vietnam, the world's second-largest grower after Brazil and the biggest exporter of robusta beans.

WHERE DOES VIETNAM'S COFFEE CROP STAND NOW?

Farmers will complete their last phase of tree watering soon as the rainy season returns to the coffee region slightly earlier than usual due to the impact of the La Nina weather phenomenon, a state forecaster has said. 

Coast cocoa snagged by customs dispute-exporters

ABIDJAN, April 26 , 2011 - The export of nearly half a million tonnes of Ivorian cocoa is being held up by demand from local customs authorities that duty be paid in cash rather than by cheque, exporters told an industry meeting on Tuesday.

However a top official of the CGFCC sector body said he was optimistic the dispute could be settled and that supplies of Ivorian cocoa could resume in a matter of days.

"We insisted but Customs demanded that it be paid in cash. In any case, I am hopeful that things will be sorted out today," CGFCC director of operations Eric Koffi told the meeting, in which several exporters said they could not resume supplies until the dispute was settled.

Koffi later told Reuters he believed the first exports could take place "in a matter of days". Exports have been blocked by a months-long political crisis which eased this month with the ousting of incumbent Laurent Gbagbo, who had refused to step down after a November election he was judged to have lost. 

SOURCE : REUTERS

NY COFFEE AND COCOA market close review for today, April 26, 2011

COFFEE
* July arabica coffee futures surged 5.50 cents or  1.9 percent to finish at $2.9630 per lb.
 

* Contract moved closer to last week's 34-year peak at  $3.0250 per lb.
 

* Total volume light at 12,287 lots, down 39 percent from  the 30-day average - preliminary Thomson Reuters data.

LONDON COFFEE AND COCOA market close review for today, April 26, 2011

Liffe coffee ends sharply up as ICE arabicas surge

* Liffe July robusta coffee rose $67 to close at  $2,502 a tonne after setting a contract high of $2,549. Market  bolstered by renewed strength in ICE arabicas, which surged back  up towards a recent 34-year peak.
 

* Liffe August white sugar fell $6.00 to close at  $633.10 a tonne. Market weighed by expectations of ample  produciton from Brazil and Thailand and the possibility of  further unrestricted exports from India.
 

* Liffe July cocoa ended 17 pounds higher at 1,907  pounds a tonne. Traders monitoring situation in top grower Ivory  Coast where the cocoa sector set to resume operations within  days following a violent post-election conflict.
 SOURCE : REUTERS

NY COCOA Forecast for today, April 26, 2011

New York cocoa remains technically neutral, move between $3,054 and $3,131 per tonne.
 

If market reach $3,131, price may extend to $3,200, an upper channel line resistance, while a break below $3,054 will trigger a fall to $3,018 first and $2,940 if the $3,018 level fails to hold up the fall.

 

The bias is still at the upside, as a short-term rising channel will be intact so long as cocoa stays above $3,018. ------

NY COFFEE ( ARABICA ) Forecast for today, April 26, 2011

New York coffee is expected to retrace more to $2.8890 per lb, based on its wave pattern and a Fibonacci retracement analysis.
 

A five-wave cycle has completed on the rise from $2.6690 to $3.0250, and a Fibonacci retracement reveals an immediate target at $2.8890, the 38.2 percent level.
 

A rising channel will be violated, with a projected target pointing to the same as well.
 

Resistance is at $2.9820, a rise above which will confirm the resumption of the medium-term uptrend towards $3.05. ----

 

Forecast : Indonesia and Malaysia Cocoa

INDONESIA

SUMMARY- Scattered showers and thundershowers yesterday, 0.10-1.50+ inches(3-38+ mm). Temperatures 77-94F (25-34C).

FORECAST-

TODAY...Additional showers and thundershowers expected, 0.10-1.50+ inches(3-38+ mm). Temperatures 78-94F (26-34C).

TONIGHT...Showers diminish overnight.

Vietnam Coffee-April loading rises, discounts widen

HANOI, April 26, 2011 - Vietnam's April coffee exports jumped an estimated 30.3 percent from the same month in 2010 to 155,000 tonnes, or 2.58 million bags, exceeding market expectations, the agriculture ministry said.

Rising exports from Vietnam could put a cap on London robusta futures prices, which have been gaining in recent months in line with the advance of arabica prices and an expected production shortfall in rival robusta producer Indonesia.

The estimated shipment this month brought coffee exports in the period between January and April to 11.25 million 60-kg bags, up 45.4 percent from the corresponding period a year ago, the ministry said in a report compiled on Monday.

NY Coffee and cocoa market close review for today, April 25, 2011

COFFEE
* July arabica coffee futures fell 3.75 cents or 1.3 percent to  close at $2.9080 per lb.
 

* July rose early on thin volumes, moving back towards last week's  34-year high at $3.0250 per lb, but reversed lower on investor selling as  the commodity complex fell - traders.
 

* Total volume at 9,492 lots, down 63 percent from Easter Monday 2010 -  preliminary Thomson Reuters data.

Forecast : Indonesia Vietnam and Thailand Coffee Weather today, April 25, 2011

INDONESIA

SUMMARY- Tropical showers and thundershowers the past few days, rainfallamounts 0.25-2.50+ inches (6-64+ mm). Temperatures 77-94F (25-34C).

FORECAST-

TODAY...Scattered showers and thundershowers likely, 0.10-1.25+ inches (3-32+mm). Temperatures 77-94F (25-34C).

TONIGHT...Showers diminish overnight.

Vietnam to cut coffee area but keep output stable by 2020

HANOI, April 25, 2011 - Vietnam, the world's second-largest coffee producer after Brazil, planned to cut its total coffee acreage by 13.5 percent to 480,000 hectares (1.19 million acres) while keeping output stable by the end of this decade, state-run media reported.

The area would be trimmed from 555,000 hectares, while Vietnam will aim to produce about 1.1 million tonnes, or 18.33 million 60-kg bags, of coffee a year, similar to the output of the 2010/2011 crop, the official Vietnam News Agency said.

Brazil cocoa arrivals typical of interharvest lull

Cocoa deliveries from Brazil's maingrowing regions remained low in the last week, data from Bahia Commercial Association showed, with the forthcoming mid-crop still several weeks off.

The mid-crop in the top cocoa state of Bahia is likely to fall about 15 percent from last year to around 1.1 million 60-kg bags (66,000 tonnes), according to some estimates, cocoa analyst Thomas Hartmann said in a weekly crop update.

But other states such as Para have seen a steady rise in output, boosted by government sponsorship of family farming programs focused on cocoa which may help offset this drop, if their output continues to rise.

Hartmann said the mid-crop may not kick in in Bahia until mid-June, though Para would probably be harvesting by mid-May.

Total Brazilian cocoa arrivals, including imports, reached 3.99 million 60-kg bags from May 1, 2010 to April 17, up 15 percent from the same period of last season, data from the Bahia Commercial Association showed.

Hartmann said farm gate prices in Bahia were barely changed in the last week versus the previous at 75-77.00 reais per arroba (US$47.77-$49.05), equating to $3,175-$3,260 per tonne.-----

Asia Coffee-Sumatran beans at premium, roasters seek bargain

SINGAPORE, April 20, 2011 - Indonesia robusta beans stayed at premiums to London futures as purchases from domestic roasters stirred up trade, while Vietnam could be under pressure from the prospect of a bigger output in the next crop, dealers said on Wednesday.

Sumatran robusta beans Grade 4, 80 defects, were steady at $20 premiums to the July contract . Vietnam's beans were at a discount of $60 to $70 London futures, but farmers were reluctant to sell as they waited for a further rebound in the international market.

NY Coffee and Cocoa market close review for today, April 20, 2011

COFFEE
* July arabica coffee futures climbed 5.20 cents or 1.8  percent to finish at $2.9945 per lb, the highest settlement for  the second position since 1977.
 

* July pierced the key $3/lb level intraday as chart
indicators were bullish after climbing 17 percent in 15 sessions.
 

* Market lifted by the strong commodity complex was buoyed by  lingering worries over the U.S.. fiscal health, which hammered the  dollar and caused investors to look to alternative assets -  traders.

Ghana cocoa purchases up 47 pct

Cocoa output from the world's No. 2 grower Ghana is running 47 percent higher than last year, according to official figures on Tuesday, helping to offset export delays from neighbouring Ivory Coast.

Declared purchases by private cocoa buyers to Ghana's industry regulator Cocobod -- the best reflection of output in the West African state -- reached 765,772 tonnes by April 7 since the start of the season in October.

Forecast : Full Ivorian cocoa export revival to take weeks

ABIDJAN, April 19, 2011 - Ivory Coast cocoa exports will reach normal volumes no sooner than the end of April as authorities iron out new tax and customs procedures, banks reopen and security improves, shippers said on Tuesday.

The world's top grower of cocoa is slowly recovering from a violent post-election power struggle, which ended last week with the arrest of former President Laurent Gbagbo. 

"Exports will not fully restart until the end of the month because we need to fix a lot of things in terms of logistics, finances and so on," said the director of an export company based in Abidjan, who asked not to be named.

Burundi 2010/11 coffee revenues up almost 400 pct

BUJUMBURA, April 19, 2011- Burundi's coffee earnings from the 2010/11 crop jumped 396 percent to $82.8 million from the previous season due to high volumes and stronger global prices, the industry regulator said on Tuesday.

The estimate is higher than early forecasts of $81.6 million. The sector sold 23,548 tonnes of green beans, up from 6,381 tonnes in the 2009/10 harvest worth $16.7 million.

"Sales tripled compared to the previous season and prices at New York market were generally stronger," said a report by regulator ARFIC.

New York is a reference market for arabica beans from East Africa nations including Burundi.

Coffee is Burundi's top hard currency earner and employs some 800,000 smallholder farmers in the tiny central African nation of 8 million people.

Source : Reuters

Kenyan coffee prices rise as market breaks early

NAIROBI, April 19, 2011 - The top price of Kenya's benchmark grade AA coffee rose to $450 per 50-kg bag  at this week's sales from $428 per bag one week ago as buyers  mopped up stocks ahead of the long forced early break, the  Nairobi Coffee Exchange (NCE) said on Tuesday.
 

Kenya's coffee marketing season traditionally breaks around  the July-August window, but owing to supply shortage this year  the NCE has suspended trading nearly three months earlier.

NY Coffee and Cocoa market close review for today, April 19, 2011

COFFEE
* July arabica coffee futures jumped 6.85 cents or  2.4 percent to settle near the session peak at $2.9425 per lb,  the highest settlement for the second position since March 9.
 

* July hit a five-week high for the fifth straight day.  Session high reached $2.9465, near last month's 34-year high  for the second position at $2.9665.
 

* Market rallied on a combination of buying by roasters,  investors and the trade as the market resumed its upward trend  amid decreasing producer selling - traders.

NY cocoa futures open interest at 12-week low

NEW YORK, April 17, 2011 - Total open interest in U.S. cocoa futures fell to the lowest level in 12 weeks on Thursday, according to ICE Futures U.S. data on Friday.

Open interest in cocoa <0#CC:> amounted to 153,591 lots, down 3,121 lots from the day before and the lowest since Jan. 25 as the key July cocoa futures closed up nearly 2 percent at $3,127 per tonne.
 

Cocoa futures saw open interest steadily increase after the disputed presidential election in top grower Ivory Coast on Nov. 23. And it rose even more as the political crisis there deepened and became violent, spurring an export ban on Jan. 23 and lifting the market to a 32-year high at $3,775 per tonne on March 4 on supply concerns. 

On Thursday, Ivory Coast's President Alassane Ouattara formally lifted a nearly three-month ban on cocoa and coffee exports, his television channel said.

Source : reuters

Coffee-Indonesia coffee hits 1st premium since mid-2010

6AKARTA, April 16, 2011 - Indonesian robusta coffee beans were offered at a premium to London futures this week for the first time since June 2010 because of tight supply after rain damaged coffee cherries early this year, traders said on Friday.

The prospect of a relatively poor crop could mean the premium holding for some months, they said.

Sumatra robusta beans Grade 4, 80 defects, were offered at a premium of $20 a tonne to the July contract for shipment in May/June, or $2,499 a tonne on a free-on-board (FOB) basis, in the main growing province of Lampung on Sumatra island, traders said.

Cameroon farmgate cocoa prices fall in April

YAOUNDE, Apr 15, 2011 - Farmgate cocoa prices in Cameroon, the fifth-largest grower, fell as much as 20 percent in some regions in April, with fewer buyers in the hinterlands as the main harvest season tails off, farmers said on Friday.

In the Centre province, the main cocoa-producing region, farmers said beans sold for as little as 1,150 CFA francs ($2.53) per kilogram in April, compared with 1,450 CFA francs the previous month around Bafia.

In Kumba in the South-West province, beans sold for 1,300 CFA francs in April, compared with 1,430 CFA francs in March.

"Buyers are no longer streaming in from Douala, (the country's economic capital), because they are not sure of getting any beans," said Joseph Nde, manager at Cameroon Marketing Commodities (CAMACO) in the South-West region.

"We had to comb all main growing areas to be able to come up with about five tonnes last week," he said.

Cameroon's cocoa season runs from Aug. 1 to July 31, with the main harvest period from October to January/February.

The 2010/2011 main harvest, however, started earlier - around mid-September - and ended in January in the Centre region due to little rainfall and plenty of sunshine.

Cameroon exported about 197,000 tonnes of cocoa beans in the 2009/10 season. Data so far shows the country is on track to export well over 200,000 tonnes this year due to increases in production in the Centre and East regions.

Source : Reuters

Europe cash coffee: heavy Ethiopian trade reported

HAMBURG, April 15, 2011 - Ethiopian arabica traded heavily in Europe's cash coffee market this week as roasters sought supplies at low price differentials following a rise again by New York futures, traders said on Friday.

"Ethiopian Djimmah Grade 5 beans were offered at 58-60 cents under New York contracts this week against 12 cents under for Brazil medium to good bean fine grades," one trader said.

"Industry showed a very big appetite for Ethiopian beans and big volumes were traded."

Cocoa firm after positive demand data; arabicas climb

NEW YORK/LONDON, April 15. 2011 - Cocoa prices rose on Friday, on reports showing that processors had utilized capacity around the world, compensating for interrupted supply from top grower Ivory Coast.

Arabica coffee futures climbed closer toward last month's 34-year peak, and raw sugar bounced after three weak sessions, joining a rally in other other commodities on positive U.S. consumer sentiment and Chinese economic growth data.

NY Cocoa market close review for today, April 15, 2011

* Key July cocoa futures closed up $30 at $3,157 per tonne,  while May surged $114, or 3.6 percent, to finish at $3,239 per  tonne.
 

* July closed the week up 5.8 percent, its biggest weekly gain in 13  weeks.
 

* May closed at an $82 premium to July, the highest for the spot  contract since February 2009, from a $2 discount Thursday.
 

* Rally in May in light volume of just over 500 lots as investors got  caught short on first notice day - traders.
 

* Market strong on positive grind data in Europe, North American and  Malaysia - traders.
 

* Technical buying also lifted prices as July remained above the  200-day moving average and nudged above the 100-day moving average at  $3,169 - traders.
 

* Cocoa grindings in Malaysia, Asia's largest grinder, rose 10.8  percent in the first quarter of 2011 from a year before. 

* The International Monetary Fund is exploring ways it can be of help to Ivory Coast's new government to stabilize the economy.

Source : reuters

NY coffee ( arabica ) market close review for today, April 15, 2011

* July arabica coffee futures jumped 5.95 cents or 2.1 percent to settle at $2.9110 per lb.
 

* July closed the week up 4.8 percent, its second straight weekly  gain.
 

* Arabica premium over robusta futures soared, with its last trade at  $1.7925 per lb, the highest since at least 2008 when the current Liffe  contract was established.
 

* Market strong on supply concerns as well as chart-based buying as  July got closer to last month's 34-year high at $2,9665 per lb - traders.
 

* "Every coffee growing nation seems to be having some type of coffee  issue. I think it's going to give people a reason to try to test the $3  level in the July coffee very soon." - Hector Galvan, RJO Futures senior  market strategist in Chicago.
 

* Indonesian robusta coffee beans were offered at a premium to London  futures this week for the first time since June 2010 because of tight  supply after rain damaged coffee cherries early this year.

Source : reuters

GERMAN Q1 2011 COCOA GRIND UP 22.7 PCT ON YEAR, RISE DUE TO MORE FIRMS REPORTING DATA -BDSI

HAMBURG, April 115, 2011- Germany's first-quarter 2011 cocoa grind rose 22.7 percent on the year to 108,816 tonnes, the association of German confectionery producers BDSI said on Thursday.

The association said the large rise was partly due to a change in statistical calculation because more companies were contributing grinding data than in the first quarter of 2010.

In other side, Europe's first quarter cocoa grind rose 3.5 percent on the year earlier period to 353,103 tonnes, the Brussels-based European Cocoa Association said on Thursday.

The rise was at the higher end of analysts' and dealers' expectations, as grinding capacity utilization in Europe was forecast to have increased, due to the lack of activity in top cocoa producer Ivory Coast.

Ivory Coast's cocoa industry has been at a standstill in recent months after a disputed presidential election in November led to EU sanctions, a ban on cocoa exports and a crippled banking system.

Cocoa processors were expected to have replaced the lost Ivory Coast capacity by using capacity elsewhere.

European grindings, a key indicator of demand, have not yet fully recovered from a recession-linked decline in early 2009.

The ECA's quarterly statistics cover most of the grinding industry in the European Union and Switzerland.

Source: reuters

Ivory Coast cocoa exporters seek speedier process

ABIDJAN, April 14, 2011 - Ivory Coast exporters have requested that the government ease administrative procedures and allow them ship the more than 450,000 tonnes of cocoa blocked at the country's port before paying taxes later.

Exporters said on Thursday normal export procedures usually take 15 days but hoped after several months of blockade the new government of Alassane Ouattara would ease the system and permit exporters to load and ship beans before paying taxes.

Nestle to decide on L'Oreal stake in 2014

ZURICH, April 14, 2011 - The world's biggest food group Nestle will decide on the future of its stake in French cosmetics group L'Oreal in 2014 when a 10-year standstill agreement draws to an end, its chairman said on Thursday.
 

Last year's disposal of its remaining stake in eyecare company Alcon allowed the food company to sharpen its focus on nutrition, health and wellbeing. Its 30 percent stake in L'Oreal is next on the agenda, Chairman Peter Brabeck said on Thursday.

Kraft to sell Gevalia coffee at US supermarkets

LOS ANGELES, April 14, 2011 - Kraft Foods Inc will begin selling its premium coffee brand, Gevalia, at supermarkets and other U.S. retailers in August, the company said on Thursday.
 

The move gets Kraft back into the U.S. premium grocery coffee business after its contentious split with Starbucks Corp this March. The companies had been long-time grocery distribution partners. Kraft, North America's largest packaged food maker, said Gevalia is the No. 1 coffee brand in Sweden.
 

The company added that the nearly $400 million global Gevalia brand already has a "significant" following in the United States, where it is sold online.
U.S. retailers in August will offer ground, whole bean, decaffeinated and flavored Gevalia coffees options, Kraft said.

Source: Reuters

NY Coffee and Cocoa market close review for today, April 14, 2011

COFFEE
* July arabica coffee futures gained 1.45 cents, or  0.5 percent, to close at $2.8515 per lb.
 

* Second-position July moved closer to last month's 34-year  high of $2.9665 per lb.
 

* Position rolling out of May, ahead of first notice day  April 20, into July continued to account for a large proportion  of the day's dealings - traders.
 

* Short-covering and some roaster buying helped lift prices  as tight supplies underpinned the market - traders.

Brazil cocoa slows to trickle, awaits May mid-crop

Deliveries of cocoa to warehouses inBrazil's main growing regions were slow in the last week, data from BahiaCommercial Association showed, but will pick up again in May once themid-crop harvest starts.

Total Brazilian cocoa arrivals, including imports, reached 3.96 million 60-kg bags from May 1, 2010 to April 10, up 15 percent from the same period of last season, data from the Bahia Commercial Association showed.

The May-April season looks set to end with total output a good deal higher than last year, helped by one of the best main crop harvests in years compensating for the poor mid crop before it. The main crop runs from October to late April.

Farm gate prices in Bahia improved to 75-77.00 reais per arroba ($47.14-$48.4), up slightly from 74-76 reais in the previous week. Cocoa futures prices have been influenced heavily by political unrest in top cocoa grower Ivory Coast.

The weather in Bahia was forecast to remain mostly dry and sunny, with showers forecast to intensify over the weekend.

Source : Reuters

Colombia coffee exports soar 53 pct in March-fed

BOGOTA, April 13, 2011 - Colombia's coffee exports shot up 53 percent to 884,000 60-kg bags in March versus the same month last year, a trade group said on Wednesday, as growers took advantage of record high prices.

The coffee futures market has doubled in value in a sustained rally that began in June 2010, with much of the latest push driven by a scramble for high-quality beans. Coffee prices hit a 34-year high last month.

Colombia, the world's top producer of high-quality washed Arabica, saw a 24 percent rise in production in March to 779,000 sacks versus the same month last year, the National Federation of Coffee Growers said.

"The positive results in the growth of the crop so far and the strong commitment to eradicate once and for all roya (fungus) in the country shows that we're achieving our goals,"

Luis Genaro Munoz, the federation's head, said in a statement. The roya fungus attacks coffee leaves and impedes photosynthesis. Agriculture Minister Juan Camilo Restrepo has said the fungus infecting Colombia's coffee trees had worsened, and now covered one-half of the country's farms.

The federation expects coffee output this year to reach about 9 million to 10 million bags, the highest level since 2008, as better weather helps flowering.

So far this year, Colombian bean exports have risen 40 percent to 2.38 million bags versus the same period in 2010, while production has grown 37 percent to 2.45 million sacks, the federation said.

Tight supplies in Colombia, the world's top producer of high-quality washed Arabica beans, and in Brazil, another top producer, were the main impetus for a spike in Arabica prices last year that has continued into 2011.

Bad weather, a tree renovation program and pests in the previous two years cut output in Colombia by about one-third its norm. While this year's crop is forecast to rebound, it will still be below historical averages of 11 million sacks.

Source: reuters

Outlook : Cocoa firms on I. Coast concerns

NEW YORK/LONDON, April 13, 2011 - Cocoa futures climbed on Wednesday due to worries about possible disruptions to the mid-crop harvest in Ivory Coast even as cocoa exports were set to resume from the world's top grower after months of political turmoil.

Cocoa futures have slid around 25 percent since peaking at a 32-year high in March as Ivory Coast has looked closer to resuming exports after the civil war there was resolved with the arrest of leader Laurent Gbagbo.

"Now that everything is settling down in the Ivory Coast, there may be more of a normality in the market," said Nick Gentile, head of trading at commodities fund Atlantic CapitalAdvisors.

New York's July cocoa contract on ICE Futures U.S.  gained $14 to end at $3,070 per tonne. London's July cocoa  rose 9 pounds to close at 1,946 pounds per tonne.
 

The market's focus shifted to the first-quarter European  cocoa grind data and U.S. cocoa grind data. Both key indicators  of demand are due out on Thursday.
 

"We'd expect it to be a little bit up due to the fact  there's been no grinding in Ivory Coast. If it's not up, it's  bearish," the dealer said, estimating grindings would increase  by 2 percent or 3 percent.
 

A second dealer said, "We expect ECA grindings to be  slightly better due to replacement from Ivory Coast."
 

International trade house and cocoa processor Archer  Daniels Midland Co. (ADM) , whose operations in Ivory Coast have been suspended since the first week of March, said  in an emailed statement: "We're currently leveraging our cocoa  processing operations in Ghana, Singapore, Brazil, the United  States and Europe to meet our customers' needs."
 

Ivory Coast's major port of Abidjan remained shut on  Wednesday as staffing and logistical issues meant operations  could not resume, shipping sources said. 

"The trade has bought so much cocoa from Ghana, from Togo,  to hedge against Ivory Coast, now they've got their hedges and  they've got their cocoa from Ivory Coast too. Now they have too  much of everything so they are moving out of their positions,"  a long-time U.S. based analyst said.
 

U.S. cocoa futures were also bolstered by technical  strength after rising above the 200-day moving average and  after the 20-day and 100-day moving averages crossed above the  market late last week.

Source : reuters

NY coffee and cocoa market close review for today, April 13, 2011

COFFEE
* July arabica coffee futures jumped 6.80 cents or 2.5 percent  to finish at $2.8370 per lb.
 

* May/July spreading dominated the session's heavy volume ahead of the spot contract's first notice day April 20.
 

* Total volume around 40,569 lots, the highest since November 2010 -  preliminary Thomson Reuters data.
 

* "Most of it is spread related. Ten percent of the volume is outright  volume. A lot of people are watching more than doing anything." - Rodrigo  Costa, vice-president of Institutional Sales for Newedge USA.
 

* Colombia's coffee exports shot up 53 percent to 884,000 60-kg bags in  March versus the same month last year - Colombian Federation of Coffee  Growers. 

COCOA
* Key July cocoa futures rose $14 to close at $3,070 a tonne.
 

* May/July position contributed to a significant portion of the day's  strong volume ahead of first notice day for May on Friday - traders.
 

* Technical strength and short-covering lifted the market, after rising  above the 200-day moving average and after the 20-day and 100-day moving  averages crossed above the market late last week.

 

* Market remained firm as a lot of work was still required to bring  life in top grower Ivory Coast back to normal - traders.
 

* Ivory Coast's President Alassane Ouattara pledged to quickly restore  security and prosperity to a nation broken by civil war as life in the main  city slowly returned to a normality of sorts.
 

* Ivory Coast's two main ports will reopen this week with ships likely  to arrive by next week, paving the way for a resumption of cocoa exports  from the world's top grower - spokesman for President Alassane Ouattara.

* European cocoa and North American cocoa grind data for the first  quarter will be released Thursday.
  Source : reuters

Cocoa groups hope for quick restart Ivorian trade

Cocoa industry groups on Tuesday welcomed a call for peace by top grower Ivory Coast's internationally recognised president, Alassane Ouattara, and said they hoped for a swift resumption of trade.

"We also welcome the EU decision to lift the EU sanctions on the ports of Abidjan, San Pedro, and the CGFCC (Coffee and Cocoa Trade Management Committee)," said a joint statement from the European Cocoa Association and the Federation of Cocoa Commerce.

"We are hopeful that the end of the political crisis will very soon enable us and our members to play a part in the resumption of cocoa trade and the recovery of the Ivorian economy."

It added, "A prompt resumption of cocoa activities will bring a much needed focus in the lives of the hundreds of thousands of people engaged in the Ivorian cocoa trade."

Ouattara called for peace after his rival Laurent Gbagbo was arrested with the help of French forces, but he faces a huge task reuniting a country shattered by civil war.

Ouattara, who won a November presidential election according to U.N.-certified results, can begin asserting his authority over the West African country after Gbagbo was captured on Monday, ending more than four months of A stand-off that descended into all-out conflict. 

Source : reuters

Tanzanian coffee prices fall on poor quality

Tanzania's coffee prices fell at last week's auction due to poor quality produce as farmers in the east African nation sell their last remaining harvests of the season, traders said on Tuesday.

A few bags of top-grade coffee continued to fetch record high prices, but most of the coffee on offer was of low quality.

"The main reason for the decline of prices is that the coffee on auction was generally of low quality. The average lot size was just 16 bags, while the normal standard is 100 bags per lot," said a trader at a coffee exporting company in Tanzania.

Indonesia's cocoa grinders to expand, consume more beans

JAKARTA, April 12, 2011 - Indonesian cocoa grinders expect to process 280,000 tonnes of cocoa beans this year, up about 55 percent from last year, as  grinders expand capacity to benefit from a recent tax change on cocoa beans exports, an industry official said on Tuesday.

The government slapped an export tax on cocoa beans for the first time last April in an effort to encourage the retention of beans for local refining and possibly gain a premium in international markets.

NY Coffee and Cocoa market close review for today, April 12, 2011

COFFEE
* May arabica coffee futures fell 0.80 cent to close  at $2.7380 per lb.
 

* May/July spreading contributed to the day's heavy volume
ahead of the spot contract's first notice day April 20.
 

* Market was firm on tight supplies and strengthening  chart-based signals, but turned negative on spillover pressure  as the Reuters-Jefferies CRB index <.CRB> fell about 2 percent  when oil slumped - traders.

Indonesia Sulawesi cocoa price fall on futures, high export tax

JAKARTA, April 12, 2011 - Indonesia's Sulawesi cocoa beans prices fell this week on expectations of a drop in New York prices and a hefty export tax applied for April shipments, an industry official said.

Sulawesi fair-average cocoa beans were offered at around 22,000 rupiah ($2.5) per kg this week, down from an average of 27,000 rupiah per kg in March, said Dakhri Sanusi, secretary general of the Indonesian Cocoa Association.

"The government increase in export tax in April to 15 percent at a time when New York cocoa prices are expected to fall on resumption of cocoa shipments from Ivory Coast is a piece of bad luck for local farmers," said Sanusi.

Mexico coffee farmers hoard on hope of higher prices

MEXICO CITY, April 12, 2011 - Mexican coffee producers may be hoarding their  beans to see whether record prices push even higher, adding to a supply squeeze that helped propel the coffee market to a 34-year peak last month.

Rodolfo Trampe, head of the national coffee association Amecafe, told Reuters in an interview on Monday exports from the world's fourth-largest arabica producer have fallen about a quarter so far this season compared to last year.

"There are some problems in the supply chain," Trampe said.

Cargill says Dutch cocoa plant back online in days

AMSTERDAM, April 11 (Reuters) - Production in a cocoa processing plant in the 

Netherlands damaged in a fire on Sunday will resume within the next few days, owner U.S. agribusiness giant Cargill said on Monday.

On Sunday evening a fire broke out in the dust aspiration system of Cargill's cocoa processing plant in Wormer but was put quickly under control, Cargill said in a statement.

"We have assessed the equipment affected and expect production to resume within the next few days," the company said.

The fire was the second at a Dutch cocoa plant in as many days. On Saturday a fire broke out in an Archer Daniels Midland Co. (ADM) cocoa processing plant in the same town.

ADM said in a statement on Monday that the facility remained operational, though its capacity was reduced.
In 2003 a fire in ADM's plant spread to cocoa warehoused and burned for several days. 

Source : reuters

Brazil coffee crop shapes up well, weather helping

BRASILIA, April 11, 2011 - Brazil is set to gather a good quality coffee during the world's biggest harvest, starting in mid-May, helped by improved rains and increased spending to boost yields, producers told Reuters on Monday.

The global coffee market cannot afford for much to go wrong with the harvest, which provides about one-third of the global supply. Low global stocks and rising consumption have led to a doubling of prices since June last year.

NY Cocoa market close review for today, April 11, 2011

* Key July cocoa futures rose $43 to settle at $3,028 a tonne.

* May/July position rolling kept volume strong ahead of  first notice day for May on April 15 - traders.
 

* The arrest of Ivory Coast's Gbagbo ends a four-month  standoff with presidential rival Alassane Ouattara, but it may  not be enough to end a civil war and soothe ethnic divisions in  the world's top cocoa grower. 

* Market pared its gains after Gbagbo was arrested as it  raised hopes that the world's top grower will resume its cocoa  exports soon - traders.
 

* Production in a Cargill cocoa processing plant in the  Netherlands damaged in a fire on Sunday will resume within the  next few days.

Source : reuters 

NY coffee ( arabica ) market close review for today, April 11, 2011

* May arabica coffee futures inched down 0.35 cent  to finish at $2.7460 per lb.
 

* Market appeared set to move higher after last week's key  reversal higher while tight supplies continued to underpin  prices - traders.
 

* Fresh long buying by investors lifted the market earlier  - Sterling Smith, analyst with Country Hedging.
 

* Position rolling out of May into July, ahead of first  notice day April 20, lifted volume - traders.
Source : reuters

Burundi coffee earnings nearly double in March

BUJUMBURA, April 11, 2011 - Burundi's coffee earnings leapt 90 percent in March from a month earlier, as the 2010/11 marketing season drew to a close, the industry regulator said on Monday.

The country's regulator (ARFIC) said the sector collected $7.4 million from the sale of 2.1 million kgs, up from $3.9 million earned in February from the sale of 951,420 kg.

"The beans sold in March were the last ones for the 2010/11 crop. Traders bought everything, even the coffee lots ... of low quality," said a report by ARFIC.

Cocoa rises after Ivory Coast's Gbagbo arrested

NEW YORK/LONDON, April 11, 2011 - Cocoa futures pared gains on Monday after Ivory Coast's defeated leader Laurent Gbagbo was arrested and the European Union lifted sanctions on the top producer's two main ports, indicating export resumption was near.

Sugar rose after the U.S. Agriculture Department authorized the imports of nearly 295,000 tonnes in fiscal 2011, while coffee prices dipped on light producer selling. 

Specs go net short in U.S. cocoa - CFTC

Speculators shifted to a net short position in ICE cocoa futures and options, Commodity Futures Trading Commission (CFTC) data showed on Friday, as it

appeared the export ban would soon be lifted in top grower Ivory Coast.

Speculators of U.S. cocoa switched to a net short position of 3,485 lots in the week ending April 5, cutting 6,560 lots, the CFTC said. 

ANALYSIS-Current commodity rally more selective than in 2008

It's simple enough tosee that many of the world's key commodities have surpassedtheir peaks from 2008, including gold, corn, and copper; othersare still well behind, oil and wheat to name but two.

But the common theme is elusive: robust Chinese growth can help explain copper's buoyancy, but is irrelevant for coffee; loose money policy has clearly aided gold, but done less for oil; the tightest stocks since the Great  Depression have fuelled corn, while wheat is far from its peaks.

NY Coffee and Cocoa market close review April 8, 2011

U.S. cocoa futures finishedlower in the highest volume in 2-1/2 months on Friday, as theexport ban in top grower Ivory Coast appeared close to being lifted and the European Union eased its sanctions on the country.

Arabica coffee finished strong, confirming the key reversal higher made earlier this week, while raw sugar closed lower. Volume was heavy in all three markets as the May/July role was in full swing.

COFFEE

* May arabica coffee futures rose 2.15 cents to close at $2.7495 per lb.

* May closed the week up 5.8 percent.

* Settlement confirms Tuesday's sharp move higher as a key reversal - traders.

* Market continued to be underpinned by tight supplies while the strong U.S. dollar also gave the market a lift - traders.

* Technical buy signals, following two rallies this week, attracted more buying - traders.

COCOA

* Key July cocoa futures dropped $17 to settle at $2,985 a tonne.

* July closed the week down 1.3 percent.

* Total volume rose at 39,449 lots, the highest since Jan. 21 - preliminary Thomson Reuters data showed.

Cocoa Forecast : London cocoa may rise to 2,400 pounds/T in 4 weeks

SINGAPORE, April 8, 2011 - Second month London cocoa is expected to end the current fall above 1,798 pounds per tonne and rise to 2,400 pounds over the next four weeks.
 

The long-term uptrend is still intact, despite a second sharp dip towards a key support at 1,827 pounds, the 38.2 percent Fibonacci retracement on a wave (3) rise from the Aug. 2005 low at 795 pounds to the July 2010 high at 2,465 pounds.
 

The uptrend could have resumed at the Nov. 2010 low of 1,798 pounds after a wave "i" of the wave (5) developed, and the current fall is labeled as a wave "ii", to be followed by a wave "iii" targeting 2,400 pounds or higher.
 

A fall below 1,798 pounds may not travel very deep, extending only to 1,758 pounds, from which, the uptrend will resume.

** 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. **
Source : reuters

Forecast : Ivorian cocoa exports could resume within weeks

LONDON, April 7, 2011 - Cocoa exports from Ivory Coast will take a couple of weeks to resume once incumbent leader Laurent Gbagbo steps down and the security in the world's top producer stabilises, shippers say.

Fighting in Ivory Coast's capital Abidjan has intensified in recent days as forces loyal to presidential claimant Alassane Ouattara tried to unseat Gbagbo and the conflict appeared close to a conclusion on Thursday.

"It will take a few weeks, depending on staffing, logistics (for shipments to commence)," said Didier Willemse, head of commodity sales at Belgian shipping company Safmarine.

ANALYSIS-Investment key as Indonesia eyes greater US cocoa exports

JAKARTA, April 7, 2011 - Indonesia's cocoa industry is looking to grab a bigger slice of the U.S. market due to unrest in top producer Ivory Coast, but needs a review of an export tax, as well as more investment to boost quality and output.

Often regarded as a cheap source of low-grade cocoa, Indonesia has embarked on a series of programmes to improve quality, but faces serious obstacles including disease and a switch to alternative crops like palm oil.

Indonesia signalled its intention in talks with the United States on Tuesday, with the world's number three producer saying it aims to increase exports to the lucrative U.S. market by 10 to 15 percent. 

Cocoa News : Ivory Coast cocoa export ban to end in days-UN envoy

NEW YORK, April 7, 2011 - Ivory Coast's presidential claimant Alassane Ouattara is expected to announce within days the end of a ban on exports of cocoa, of which the country is the world's leading producer, his U.N. envoy said on Thursday.

The country's cocoa sector is close to a return to normalcy after turmoil created by a post-election conflict between Ouattara and incumbent leader Laurent Gbagbo, envoy Youssoufou Bamba told a news conference.

"Mr. Ouattara, the president, will ... formally make an announcement (about lifting the ban) in the coming days," he said at the Ivory Coast's U.N. mission in Manhattan.

NY Coffee market close review for today, April 7, 2011

NEW YORK/LONDON, April 7, 2011 - Arabica coffee prices surged to close up 3 percent in heavy volume on Thursday as funds added positions and a lack of origin selling provided little resistance.

Arabica coffee moved toward a 34-year high of $2.9665 a lb hit on March 9, and tight supplies continued to underpin the market.

"Whoever was short decided to get out and I think it's encouraged a little bit of new buying today," said Rodrigo Costa, vice president of institutional sales for Newedge USA.

NY Cocoa market close review for today, April 7, 2011

NEW YORK/LONDON, April 7, 2011 -Cocoa futures finished slightly lower as the conflict in top growerIvory Coast intensified, with United Nations peacekeepers surrounding the defenders of the nation's incumbent leader Laurent Gbagbo.  

Cocoa futures were little changed as the U.N. sent forces into the neighborhood where Gbagbo was believed to be holed up in his heavily defended compound, but did not plan to intervene.

"The market is just not willing to do much until the situation in the Ivory Coast clears out," one cocoa dealer said.

Cocoa stores in Ivory Coast still useable - forecast cocoa

LONDON, April 6, 2011 - The almost half a million tonnes of cocoa that has piled up in top producer Ivory Coast, as months of sanctions halted shipments, is expected to still be fit for export despite heat and humidity, analysts said.

There have been fears that the cocoa was at risk of rotting.

Jonathan Parkman, joint head of agriculture at brokerage Marex Financial, told 

Reuters Insider television on Wednesday that 100,000-150,000 tonnes of cocoa was unhedged and that this could have a bigger impact on prices than the resumption of shipments.

Forecast coffee production : ICO trims 2010-11 coffee output to 133.1m bags

LONDON, April 6, 2011- Global 2010-11 coffee production was revised slightly lower to 133.1 million 60-kg bags, partly due to the La Nina weather pattern reducing output, the International Coffee Organization said on Wednesday.

The estimate was down 0.6 million bags from the previous month but remained well above 2009-10 output of 123.1 million bags.

"Production data for the Asia and Oceania region have been revised downward, especially Indonesia where the impact of La Nina phenomenon has been more severe than expected," the ICO said in its monthly report. 

Source : reuters

NY Cocoa market close review for today, April 6, 2011

NEW YORK/LONDON, April 6, 2011 - Cocoa futures ended firmer on Wednesday, recouping recent losses as the prolonged conflict between presidential rivals in top grower Ivory Coast failed to be resolved as quickly as hoped.

Tuesday's optimism for a near-term resumption of cocoa exports dimmed as forces loyal to presidential claimant Alassane Ouattara launched a heavy attack on the bunker where Laurent Gbagbo was defying efforts to force him to cede power.

NY Coffee market close review for today, April 6, 2011

* May arabica coffee futures fell 3.10 cents or 1.2 percent to close at $2.6515 per lb.
 

* Market consolidated lower after Tuesday's sharp rally that pushed the  market to its biggest one-day percentage gain in five months.
 

* Concern about tight supplies continued to underpin the market -  traders.
 

* Global 2010-11 coffee production was revised slightly lower to 133.1  million 60-kg bags, partly due to the La Nina weather pattern reducing  output - International Coffee Organization.

Source : reuters

Gbagbo negotiating exit from Ivory Coast

ABIDJAN, April 6, 2011 - Ivory Coast's Laurent Gbagbo was negotiating the terms of his departure on Tuesday following a fierce assault by forces loyal to his rival and backed by U.N. and French helicopter air strikes.

But Gbagbo, who has refused to cede power after a U.N. certified election showed he lost to rival Alassane Ouattara, told French TV channel LCI that his army had called for a ceasefire, denying reports he was ready to surrender.