slimvictor
Bluelight Crew
- Joined
- Dec 29, 2008
- Messages
- 6,483
It was the murder -- execution-style, in broad daylight -- of a friend and fellow farmer in the Colombian countryside that prompted German Sanchez to finally heed government calls to get out of the cocaine trade and plant cocoa instead. Six years later, market forces, more than concerns about personal safety, are persuading him not to switch back.
Prices for cocoa, the raw material used to produce chocolate, are climbing in international markets, lining the pockets of Andean farmers. Sanchez says he’s getting about 6,800 pesos ($2.31) this year for a kilogram (2.2 pounds) of cocoa beans, compared with 5,000 pesos last year and about 3,000 pesos in 2012.
Coca, the source of cocaine, “caused a lot of bloodshed,” said the widower, a father of two. “Family members were killed and others ended up in jail. The economic revenues didn’t justify the risk.”
Cocoa futures have surged 39 percent in the three years through Nov. 10, according to data compiled by Bloomberg. The Bloomberg Commodity Index, which doesn’t include cocoa, tumbled 40 percent in the same period.
The trend partly reflects supply constraints in West Africa, which accounts for about 70 percent of the world’s supply. Dry weather from the strongest El Nino since the 1997-98 record has hurt crops there -- mainly in Ghana, the No. 2 producer -- although the return of rainfall last month eased some of the concerns.
cont at
http://www.bloomberg.com/news/artic...g-hand?cmpid=google&google_editors_picks=true
Prices for cocoa, the raw material used to produce chocolate, are climbing in international markets, lining the pockets of Andean farmers. Sanchez says he’s getting about 6,800 pesos ($2.31) this year for a kilogram (2.2 pounds) of cocoa beans, compared with 5,000 pesos last year and about 3,000 pesos in 2012.
Coca, the source of cocaine, “caused a lot of bloodshed,” said the widower, a father of two. “Family members were killed and others ended up in jail. The economic revenues didn’t justify the risk.”
Cocoa futures have surged 39 percent in the three years through Nov. 10, according to data compiled by Bloomberg. The Bloomberg Commodity Index, which doesn’t include cocoa, tumbled 40 percent in the same period.
The trend partly reflects supply constraints in West Africa, which accounts for about 70 percent of the world’s supply. Dry weather from the strongest El Nino since the 1997-98 record has hurt crops there -- mainly in Ghana, the No. 2 producer -- although the return of rainfall last month eased some of the concerns.
cont at
http://www.bloomberg.com/news/artic...g-hand?cmpid=google&google_editors_picks=true
