NewsWhore
10-28-2008, 03:50 PM
The National Confederation of Dominican Cacao Producers (CONACADO) says that cacao prices have fallen by 35% on the international markets and that 25% of processed cacao has yet to find a buyer due to a decrease in demand. According to CONACADO this could amount to a RD$500 million loss in revenue for the sector. CONACADO leader Isidoro de la Rosa says that the recent international financial crisis is partly to blame. De la Rosa says that on 1 October 2008 the price of cacao was US$2,523 per ton on the NYSE, but the price fell to US$1,966 yesterday. According to de la Rosa, the cacao sector in the DR is extremely important as it generates US$100 million in yearly revenues, as well as creating a large number of jobs. CONACADO members called on the government to provide financial help in order to stabilize the sector during the Confederation's 20th anniversary celebrations.
More... (http://www.dr1.com/index.html#8)
More... (http://www.dr1.com/index.html#8)