Germany industry not hit by cocoa export ban

* German cocoa stocks still sufficient for chocolate output

* Confectionery industry hit by commodity price rise

HAMBURG, Feb 24 (Reuters) - Germany's chocolate industry has not yet been hurt by a cocoa export ban in top producer Ivory Coast because of inventories, the association of German chocolate and confectionery industries BDSI said on Thursday.

"Stocks (of cocoa) are still sufficient to maintain chocolate production but not for an indefinite time," the BDSI said.

Germany imports about half of its cocoa for processing from Ivory Coast, and the export ban and EU sanctions against the country are causing concerns for the German confectionery industry, the BDSI said.

Cocoa futures hit a 32-year high on Wednesday after Ivory Coast presidential claimant Alassane Ouattara extended the ban, which was initially proposed from Jan. 24 for one month and largely obeyed by exporters, to March 10. [ID:nLDE71M1AI]

"As long as the political position is not clarified, the cocoa trade is blocked," BDSI said in a statement. "The cocoa farmers and their families who live from cocoa cultivation are most hit, but in the medium term so will the confectionery industry in Germany and Europe."

HIGH COMMODITY PRICES CAUSE PAIN

Germany's confectionery industry is also suffering from rising prices for wheat, sugar and vegetable oils, it said.

"Profit margins of the mostly medium-size German confectionery industry are under pressure because of the price competition in food retailing and substantial rises in commodity prices," it said.

The association said it believed excessive financial speculation in commodities is causing prices to fluctuate more than normal and take an overall upward trend.

"If the London Liffe exchange will at last deliver on its commitment to make its reporting system more transparent, the cocoa market may become more calculable," the association said.

NYSE Liffe (NYX.N: Quote) said on Jan. 31 that a new automated reporting system for London commodity futures and options would start receiving live data on Feb. 14 in a move to improve market transparency. No date has yet been set for when data will be published. [ID:nLDE70U23X]

The BDSI also called on the EU to put plans in action to allow more sugar imports and greater use of industrial sugar for food production. [ID:nLDE71K1II]

The association said increased production of biofuels from crops was taking supplies away from the food industry.

(Source: http://af.reuters.com/article/energyOilNews/idAFLDE71N18C20110224?sp=true)