Ghana trade puts mid-crop cocoa at 26,000 tonnes

ACCRA, Sept 4 Local traders say Ghana's 1996/97 cocoa mid-crop, which ended on September 4, totalled about 26,000 tonnes after a main crop to April 3 of 299,166 tonnes.

``I have heard 23, 24 and even 28,000 tonnes but I think 26,000 tonnes is realistic,'' said an Accra-based manager for Goldcrest Commodities Ltd.

Only one trader questioned expected the mid-crop tally to be higher than a May estimate by London trader E D and F Man of 30,000 tonnes.

Man said at the time it expected levels would be closer to average after an exceptional 60,000 tonnes in 1995/96.

The London-based International Cocoa Organisation (ICCO) issued a full 1996/97 crop estimate of 330,000 tonnes after a 1995/96 total of 404,000 tonnes.

Traders' mid-crop estimates suggested a marginally lower figure of around 325,000 tonnes.

COCOBOD has not announced a total crop figure for 1996/97 or an opening date for Ghana's 1997/98 main crop. Officials contacted by Reuters declined to comment.

Final returns on mid-crop purchases by COCOBOD's Cocoa buying arm at upcountry buying stations are being accepted until September 18, when traders say crop totals can be to be finalised.

Local traders' attention has already turned to the size of the 1997/98 crop.

``I don't think it will be bad but I doubt that we will have a bumper harvest,'' one said. ``The leaves look healthy and we have had a heavy dew every morning, which are good signs.''

One crop analyst based in Ivory Coast was optimistic but declined to put a figure on the 1997/98 main crop.

``It's looking quite good,'' he said after touring Ghanaian cocoa farms in July and returning to Abidjan.

Ghana's main crop season closed on April 3, when cocoa purchases totalled 299,166 tonnes against 347,971 for the 1995/96 main crop.

French-Swiss chocolate group Callebaut Barry, which owns factories in neighbouring Ivory Coast, on June 5 estimated a 1996/97 total crop for Ghana of 330,000 tonnes, with similar amounts expected in 1997/98.

Cocoa analysts are also touring neighbouring Ivory Coast, the world's largest producer, to finalise estimates for the 1997/98 crop there. One analyst said the main crop alone could total over a million tonnes, similar to 1996/97. Reuters