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Business News of Tuesday, 6 October 2009

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Ghana 08/09 cocoa harvest up at 703,000 tonnes

Ghana's full season 2008/09 cocoa harvest was 703,000 tonnes, up from 680,000 tonnes in the previous season and the third highest since 1965, an industry source said on Monday.

"This year, the season has been good and we have hit the 700,000 (tonnes) mark," the source said.

The cocoa season in Ghana, the world's second largest producer after neighbouring Ivory Coast, closed on September 24.

Industry regulator Cocobod is preparing to open the 2009/10 cocoa season next week, and is targeting purchases of at least 670,000 tonnes.

Ghana's crop total, up 3 percent on the previous year, comes as Ivory Coast begins its new season with modest expectations after enduring a 2008/09 harvest that finished down 14 percent on the previous year.