World Cocoa Surplus Is the Highest Ever
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London — World stocks of cocoa are at a record high following the sixth-straight season of over-production, the International Cocoa Organization says.
The 41-nation body said inventories were at 1.4 million tons at the end of the 1989-90 season, which closed Sept. 30.
It put 1989-90 world production at 2.377 million tons--the second-biggest figure ever.
The all-time production high was 2.447 million tons in 1988-89.
Malaysia and Indonesia achieved record harvests in 1989-90.
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