Cocoa consultant predicts increase in cocoa prices
STAFF and students were fortunate to listen to a very informative talk on Cocoa World Prices by International Marketing Specialist and author, Grant Vinning on Tuesday (July 31) this week. Mr Vinning, who has worked for the last 10 years in cocoa market development in Solomon Islands, Vanuatu, Indonesia and Papua New Guinea, particularly Bougainville, discussed how prices are determined and their likely future directions. Predicting an increase in world cocoa prices in the future, he said prices are influenced by the performance of the cocoa sector in two West African nations - Ivory Coast and Ghana. These two countries alone supply 60 percent of the world's cocoa. Mr Vinning said the price was likely to increase because of the challenges presently faced by the West African cocoa farmers such as aging trees, aging farmers, lack of new land, government involvement, the cocoa swollen-shoot virus that decreases cocoa yield and harmattan. Harmattan is a very dry, dusty ...