Amadeusz Juskowiak

Bahia cocoa review

Showers continued throughout the week in the Bahia cocoa zone alleviating the drought since early January and improving prospects for the coming temporao although normal humidity levels have not been restored Comissaria Smith said in its weekly review

The dry period means the temporao will be late this year

Arrivals for the week ended February 22 were 155221 bags of 60 kilos making a cumulative total for the season of 593 mln against 581 at the same stage last year Again it seems that cocoa delivered earlier on consignment was included in the arrivals figures

Comissaria Smith said there is still some doubt as to how much old crop cocoa is still available as harvesting has practically come to an end With total Bahia crop estimates around 64 mln bags and sales standing at almost 62 mln there are a few hundred thousand bags still in the hands of farmers middlemen exporters and processors

There are doubts as to how much of this cocoa would be fit for export as shippers are now experiencing dificulties in obtaining Bahia superior certificates

In view of the lower quality over recent weeks farmers have sold a good part of their cocoa held on consignment

Comissaria Smith said spot bean prices rose to 340 to 350 cruzados per arroba of 15 kilos

Bean shippers were reluctant to offer nearby shipment and only limited sales were booked for March shipment at 1750 to 1780 dlrs per tonne to ports to be named

New crop sales were also light and all to open ports with JuneJuly going at 1850 and 1880 dlrs and at 35 and 45 dlrs under New York july AugSept at 1870 1875 and 1880 dlrs per tonne FOB

Routine sales of butter were made MarchApril sold at 4340 4345 and 4350 dlrs

AprilMay butter went at 227 times New York May JuneJuly at 4400 and 4415 dlrs AugSept at 4351 to 4450 dlrs and at 227 and 228 times New York Sept and OctDec at 4480 dlrs and 227 times New York Dec Comissaria Smith said

Destinations were the US Covertible currency areas Uruguay and open ports

Cake sales were registered at 785 to 995 dlrs for MarchApril 785 dlrs for May 753 dlrs for Aug and 039 times New York Dec for OctDec

Buyers were the US Argentina Uruguay and convertible currency areas

Liquor sales were limited with MarchApril selling at 2325 and 2380 dlrs JuneJuly at 2375 dlrs and at 125 times New York July AugSept at 2400 dlrs and at 125 times New York Sept and OctDec at 125 times New York Dec Comissaria Smith said

Total Bahia sales are currently estimated at 613 mln bags against the 198687 crop and 106 mln bags against the 198788 crop

Final figures for the period to February 28 are expected to be published by the Brazilian Cocoa Trade Commission after carnival which ends midday on February 27

Reuter