Big Rise in Cocoa Output Points to Surplus
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LONDON — The world cocoa market is expected to have a surplus of 68,000 metric tons this season, because of an expected substantial rise in production, the International Cocoa Organization said.
The projection contrasts with a forecast of a deficit of 3,000 tons made by the organization in December.
The report estimates total world production in the current 1984-85 season ending in September at 1.81 million tons, an increase of nearly 20% on the 1983-84 figure. Ivory Coast, Brazil and Malaysia are expected to bring in record crops, with significant improvements also foreseen for many other producers, the it said.
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