Exporters struggle to meet demand

Wed, 02/15/2012 - 22:03
IN

The country’s cocoa exporters have struggled to meet rising demand overseas due to limited supply of the bean at home.

Andry, a senior staff at a Medan-based trading company PT Sarimakmur Tunggal Mandiri was quoted by Antara as saying Wednesday that supply has been limited as harvest season has ended.  The unfavorable weather condition has also contributed to the tight supply condition, he added.

He said that aside from Indonesia, the world’s third largest cocoa producer, other major producing countries such as Ivory Coast have also suffered from tight production, causing the price of the beans in the international market to surge to around US$3.3 per kg now from around $2.8 per kg at the end of last year.

But price of local cocoa beans in the export market has been discounted due to inferior quality, he said. (rei)

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