Indonesia's cocoa bean exports from its main growing island of Sulawesi rose 133 percent in September, industry data showed on Tuesday, after exporters released larger than usual stocks. Cocoa exports from Sulawesi grew to 17,240.14 tonnes in September from 7,388.28 tonnes a year earlier, Indonesia Cocoa Association (Askindo) data showed on Tuesday. August exports were at 4,340.00 tonnes.
"They (exporters) lately kept buying cocoa beans from the farmers but they rarely exported," said Dakhri Sanusi, secretary of the Sulawesi chapter of Askindo. "That's why they have a huge stock of cocoa beans." He added that new cocoa grinders being built or expanded in Indonesia had yet to start buying cocoa beans, allowing exports to remain at high levels.
Indonesia, the third-largest producer after Ivory Coast and Ghana, is battling disease and adverse weather conditions that have hampered cocoa supplies for years. Output in the archipelago is estimated to be between 435,000 tonnes and 450,000 tonnes this year, compared to 435,000 tonnes in 2011.
Askindo also estimates Indonesia's cocoa bean exports in 2012 will fall to 130,000-150,000 tonnes from 210,000 tonnes in 2011 because of rising domestic grinding capacity. Indonesian cocoa grinders and major overseas investors have spotted the potential in Asia and are expanding rapidly. Sanusi estimated that domestic cocoa grinding capacity may hit Between 500,000-600,000 tonnes next year, versus 350,000 tonnes this year, forcing the country to become a net importer.