Cocoa Deficit to Be Wider Than Expected This Season, ICCO Says

By Marianne Stigset

Aug. 21 (Bloomberg) -- A shortfall in cocoa supply this season will be wider than previously expected, the International Cocoa Organization said.

The deficit will reach 88,000 metric tons in the season ending in October, up from a previous forecast of 44,000 tons, the London-based organization said in an e-mailed report today.

Production will be 2.5 percent lower than previously estimated, at 3.65 million tons, while grindings were lowered 1.2 percent to 3.7 million tons, the ICCO said.

To contact the reporter on this story: Marianne Stigset in Oslo at mstigset@bloomberg.net