JACOBS SUCHARD SEES 100,000 TONNE COCOA SURPLUS

  Jacobs Suchard AG expects a world cocoa
  surplus of around 100,000 tonnes in 1987 compared with a
  104,000 tonne surplus in 1986, Jens Sroka, head of commodity
  buying, told a news conference.
      The company expects prices to remain at around current
  levels despite the likelihood of agreement on buffer stock
  rules at the forthcoming London cocoa talks, and believes
  market intervention by the buffer stock manager would stabilise
  prices.
      Sroka said world coffee prices are expected to remain weak
  if any international coffee talks fail to produce agreement.
      Sroka said stagnating consumption and slight overproduction
  will continue to weigh on coffee prices and he forecast a
  continued build-up in stocks.
      The recent failure of the London coffee talks had surprised
  market observers.
      Unless reason prevails and the major producers return to
  the conference table, the world coffee market will remain free
  and the consequences for some producers dependant on coffee for
  their foreign exchange earnings would be catastrophic, Sroka
  added.
  

