Foreseen-After
p. 137 · Read in the full issue
Higher Cocoa Prices
The Skullduggery
Slightly higher and more stable prices for cocoa might prevail in the next few months, according to the editor of the “Agricultural Newsletter” issued by the BSIP Department of Agri culture.
In an editorial in the April issue of the newsletter, the edi tor, D. W. Armstrong, said that last October the Cocoa Produc tion Alliance {an association of leading cocoa producers) had set an indicator price of 190/- sterl ing per cwt, below which it was hoped Alliance members would not sell.
“Unfortunately,” the editorial went on, “cocoa and politics have become inextricably mixed up in W. Africa particularly, and it would appear that the hope was a pious one. Anyhow, one way or another, sales were made and the prices dropped.”
After detailing other factors which had led to current “con fusion” in the cocoa world, the editorial said that “a sober report, from the FAO Cocoa Study Group, untainted by poli tical skullduggery”, now gave a more cheerful outlook on prices.
The report showed that esti mated cocoa production for 1964-65 was 1,239,000 metric tons (10,000 more than in 1963- 64) and fhat world grindings for 1965 were stated at 1,208,000 metric tons (39,000 more than in 1964).