Update on cocoa price trend and stocks

Cocoa's July contract price predicted to remain stable by May 2021, at a level of $2,400/tonnes, which is the same level as April. Good weather in West Africa (Ivory Coast and Ghana) enabled cocoa harvest in the mid of this year to achieve positive results. China's demand also has started to improve along with the increased Covid 19 vaccination.

These 2 factors actually can help to push the cocoa price to a better price level, but with consideration of the ongoing lockdown in France, Italy, and Germany. It has caused a decrease in cocoa processing and consumption in Europe generally. Therefore, the global price of July's contract predicted will remain stable within May.