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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Ivory coast cocoa growers to boost investment

Oct 05, 2012 11:44 AM

Increased investment by Ivory Coast cocoa farmers in farms is likely to ensue as a consequence of inclement weather during the past harvest, farmers' groups told Bloomberg.

Growers of the soft commodity in the globe's top producer of the soft commodity are set to earn 8.7 percent more for cocoa beans this year. The West African nation last year adapted the cocoa industry with plans that include selling the majority of beans prior to an actual harvest.

"The higher price and the fact it is guaranteed may encourage farmers to invest more in their farms," group of cocoa-farmer cooperatives group chief Moussa Zoungrana told the news service on Thursday. "They may decide to extend their farms, plant new variety of seeds or better treat their plantations with fertilizers and pesticides."

At 9:46 a.m. on Friday, cocoa futures gained 0.67 percent, a $16 lift to $2,411 per metric ton.

But demand for the soft commodity from Europe fell during the second quarter as a result of the sovereign debt crisis, Reuters reports. Third quarter demand is slated to drop as much as 20 percent.

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