Ivory Coast’s cocoa bean arrivals still tell bearish story
Early arrivals of the 2018/19 cocoa bean main crop for Ivory Coast were estimated consistently up from the previous season’s arrivals, meeting some skepticism. The trade cautioned that gains early in October and November might prove illusory, caused by the selling of beans that had been held back from the late harvest of the previous season.
Four months into the 2018/19 season, however, arrivals are estimated at more than 1.3 million metric tons of beans, up nearly 10 percent year on year. This is consistent with the official sales reported at the end of December, which was up close to 12 percent year on year. For the season to date, higher exports of both cocoa beans and products have been reported.
Though a harsh harmattan season was reported for some West African growing regions, rains before and after the worst of the dry period have allowed soil humidity to remain favorable. The condition of trees is reported as favorable, as are flowering, pod setting, and bean development ahead of the midcrop.
Cumulative Ivory Coast cocoa bean arrivals
Source: Trade sources, McKeany-Flavell
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