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'An overview of the history of cocoa, the factors affecting its production and consumption as well as how the trade is conducted, various risks mitigated, and by whom. ...The International Cocoa Trade is a work designed to inform all on the subject of cocoa and an essential guide for those involved in its trade.'Dr J. Vingerhoets, Executive Director, ICCOCocoa is a valuable commodity, and the cocoa trade involves many different parties from growers and exporters through dealers and factories to those trading futures and options and the banks they deal with. The International Coco

Cocoa trade.

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Fully liberalizing Côte d'Ivoire's export marketing system is expected to improve producers' incomes and marketing efficiency. And the benefits from liberalization should outweigh the costs from eliminating fixed producer prices and public forward sales. Côte d'Ivoire has historically taxed cocoa producers. Market reforms over the past 10 years have somewhat succeeded in making domestic and foreign marketing more transparent and competitive. But they have not done much to raise producer prices in real terms or as a share of the FOB (free on board) price. Maintaining fixed producer prices and marketing costs and margins has encouraged rent-seeking and led to efficiency losses. New reforms will fully liberalize the country's export marketing system by eliminating public management of exports. This means the end of mandatory export authorization, of public forward sales, and of fixed minimum producer prices and marketing margins. The new reform is expected to improve producers' incomes. McIntire and Varangis find that the benefits from the new reform (in terms of lower implicit taxes, lower marketing costs and margins, and higher producer prices) will outweigh the costs from eliminating public forward sales and fixed producer prices. Results from a general equilibrium model indicate that reducing export taxes would have a small negative effect on aggregate income but would improve income distribution for poorer rural areas. The fact that Côte d'Ivoire has market power in the world cocoa market justifies a higher optimal export tax than the current one. But raising export taxes may eventually reduce its market share and worsen income distribution, at the expense of the poorer rural sector. This paper-a joint product of the Abidjan Resident Mission and Rural Development, Development Research Group-is part of a larger effort in the Bank to evaluate the results of marketing and pricing reforms in producing countries. The authors may be contacted at jmcintire@worldbank.org or pvarangis@worldbank.org.

Cocoa trade.

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Cocoa trade

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One of the largest food commodities exported from the developing countries to the rest of the world, cocoa has gained increasing attention on the global market - raising many questions about its quality, sustainability and traceability. Cocoa production and processing technology presents detailed explanations of the technologies that could be employed to assure sustainable production of high-quality and safe cocoa beans for the global confectionary industry. It provides overviews of up-to-date technologies and approaches to modern cocoa production practices, global production and consumption trends as well as principles of cocoa processing and chocolate manufacture. The book covers the origin, history and taxonomy of cocoa, and examines the fairtrade and organic cocoa industries and their influence on smallholder farmers. The chapters provide in-depth coverage of cocoa cultivation, harvesting and post-harvest treatments with a focus on cocoa bean composition, genotypic variations and their influence on quality, post-harvest pre-treatments, fermentation techniques, drying, storage and transportation. The author provides details on cocoa fermentation processes as well as the biochemical and microbiological changes involved and how they influence flavour. He also addresses cocoa trading systems, bean selection and quality criteria, as well as industrial processing of fermented and dried cocoa beans into liquor, cake, butter and powder. The book examines the general principles of chocolate manufacture, detailing the various stages of the processes involved, the factors that influence the quality characteristics and strategies to avoid post-processing quality defects. This volume presents innovative techniques for sustainability and traceability in high-quality cocoa production and explores new product development with potential for cost reduction as well as improved cocoa bean and chocolate product quality.

Cocoa processing --- Cocoa trade

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eebo-0018

Tariff --- Cocoa trade