Price of dry cocoa beans breached ₹800-a-kg-mark as short supply of the produce continues to haunt the international market thanks to lower production in Ghana and Cote d’Ivoire, which account for the bulk of world supply. Reports pointed to cocoa beans fetching around ₹900 a kg in Idukki district, which accounts for the largest chunk of acreage under cocoa in the State.
Cocoa trader Jose Joseph in Idukki district said the price of dry beans touched ₹900 a kg and wet beans fetched ₹330 a kg. He added the market had gained buoyancy making farmers take note of the situation. As a result, there has been more cocoa arrival in the market.
Veteran cocoa farmer K.J. Varghese of Cocoa Producers’ Cooperative Society at Manimala in Kottayam feels that the price level will be maintained in the coming months considering the world supply situation. However, he said what was important was not periodic spirals in price but a steady remunerative rate that would keep the farmers in business and sustain their activities.
