Inclement weather in the globe's top producer of cocoa arrived later this year, which is likely to help crops' growth this harvest, according to Bloomberg.
Harmattan winds from the Sahara desert impacted the Ivory Coast later than usual, which provided the soil with an opportunity to retain moisture from recent rain. The National Meteorological Service said the winds began reaching cocoa regions in the middle of last month rather than during the first 10 days of the month.
"Because rainfall was quite good until at least late December, it is difficult to think that the Harmattan will create problems for the 2012-13 crop," founder Steven Haws with Commodities Risk Analysis in Pennsylvania told the news source. "Good soil moisture and low temperatures will blunt the effects of any Harmattan winds."
At 1:48 p.m. on Tuesday, cocoa futures slipped 1.85 percent, a $42 loss to $2,225 per metric ton.
Ghana, the neighbor to the east of Ivory Coast, is aiming to upgrade its cocoa production, according to a press release issued by the government of Ghana.
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