JAKARTA (Commodity Online): Adverse weather and outbreak of deadly fungal disease has affected the production of cocoa in Indonesia, the third largest producer of cocoa, which caused the exports to fall more than 60% in the last seven months.
The present supply constraint of the commodity from Indonesia is expected to the market in the 2013 crop year after supply exceeded demand by 450,000 tons in 2012.
But if the supply constraint continues, the major importer of cocoa from Indonesia is expected to move towards the African countries, which are expected of having output higher than expected.
According to an analyst, the Global cocoa consumption has been growing at about 1.5% each year with total global net production estimated at 3.736 million tons and global grindings at 3.829 million for the 2011-12, reported Reuters
