Brazilian 2004/05 (May/April) cocoa arrivals from Bahia and other states totalled 2.21 million 60-kg bags by November 28, down 16.6 percent from 2.65 million bags a year ago, the Bahia Commercial Association said on Wednesday. Bahia state, Brazil's main cocoa producer, delivered 38,438 bags in the week ended November 28, compared with the 59,562 bags in the same week in 2003/04.
"Arrivals from Bahia are tapering off as foreseen, but still may be distorted to the downside due to persisting retention of cocoa by small merchants in expectation of better prices," cocoa analyst Thomas Hartmann said in the association's weekly report.
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