World Cocoa Surplus Is the Highest Ever
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.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
