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