Does this make sense?
They probably have stored any surpluses from past years and that 70 tons probably ate into that surplus.
My guess is that this is largely a canard designed to create an artificial shortage so that prices can be raised.
In 2013, consumers ate about 70,000 metric tons more cocoa than was produced.
Does this make sense? NO!!!
In 2013, consumers ate about 70,000 metric tons more cocoa than was produced.
Does this make sense?
The difference is that they are counting recycled chocolate
Apparently we ate the reserve stockpiles.....................
International stocks are estimated well over a million metric tons. Draw down of a few percentage points of the stockpile does not seem to be a stretch.
http://www.icco.org/about-us/icco-news/266-august-2014-quarterly-bulletin-of-cocoa-statistics.html
Does this make sense?
How about if we say 77,162 American tons?