The decrease of exports from the island of Sulawesi was attributable to a reduction of supplies because of inclement weather and exporters capitalizing on lower taxes by delaying sales. Provinces in Central and Southern Sulawesi declined to 1,570 metric tons in April as compared to 5,715 metric tons in March, the Indonesian Cocoa Association stated on Monday. In April 2010, sales of the soft commodity totaled 5,715 metric tons.
Reduced duties on exports can cause an "increase [of] shipments in May," association secretary general Dakhri Sanusi told the news service. But "there's a concern that output may decline due to bad weather and reducing supplies of beans."
At 2 p.m. on Monday, cocoa futures clipped 1.47 percent, a $49 reduction to $3,291 per metric ton.
Sulawesi accounts for approximately 75 percent of sales and production in Indonesia. Thus far this year, shipments from the island have sunk 47 percent during the first third of 2011.
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