date:May 23, 2012
that the coming supply will not meet rising grinding demands.
Rabobank said that the London market was more vulnerable in the short-term to short downside correction than the NY market due to larger speculator long positions.
It forecast global cocoa production for the 2012/13 to be 4.1m tonnes.
89,000 tonnes deficit
With Asian demand growth remaining the driver for grinding increases, we foresee a 3.1% increase in global consumption to 4.2m tonnes resulting in a forecast deficit of 89,0