London, March 14: Static grindings and high stocks should prevent any threat to world cocoa supplies from an expected global production deficit of 150-200,000 tonne in 2000/01, trade house ED&F Man Cocoa said on Wednesday.In its latest report on its website at www.edfman. com/cocoa/main.html, Man forecast world grindings, which are an indicator of cocoa consumption, at 2.940 million tonne in 2000/01, compared with 2.938 million in 1999/00.End-season stocks this crop year are estimated to total 1.2million tonne, against 1.4 million at the end of 1999/00.
"Given this large stock, world cocoa supplies will only be seriously threatened if we experience a sequence of large deficits in the coming years," Man said in the report.
Man added that the key to future deficits or surpluses would lie with the world's biggest producer, Ivory Coast, which is expected to see a 19 per cent fall in production in 2000/01 due to unfavourable weather.
"More favourable weather conditions over the next 12 months should see (Ivorian) cocoa production increase in 2001/02, preventing a further large stock rundown," it said.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
