Cocoa hits highest level since April on New York Stock Exchange in the US

Published 2024년 12월 16일

Tridge summary

The global market is experiencing a supply crisis that is likely to drive up the prices of coffee and chocolate. On the New York Stock Exchange, cocoa contracts for March 2025 have surged to their highest level since April, due to adverse weather conditions in West Africa affecting cocoa production and high demand. Cocoa global stocks are at a 20-year low, with inventories dropping for the 18th consecutive month. Similarly, Arabica coffee prices have also increased due to concerns over Brazil's harvest, which is being affected by drought and insufficient rainfall. Other agricultural commodities such as first-position cotton and demerara sugar have also seen slight price increases and decreases, respectively.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Coffee and chocolate will become increasingly expensive in the coming weeks due to the crisis in the global supply of raw materials that is taking hold in the market. On the New York Stock Exchange, this Monday (12/16), cocoa contracts with a term of March 2025 soared above US$ 11,527 per ton, up 2.01% at the beginning of the session, reaching the highest level since the end of April. The worsening outlook for the intermediate cocoa harvest in West Africa, which began in October, is putting pressure on negotiations. “Traders pointed out that the weather in the main producing region has been dry recently, negatively affecting production expectations, while demand remains high,” says the morning bulletin from Trading Economics. The weather conditions are already impacting the initial growth of the intermediate crop, which should be harvested in April due to the Harmattan winds, which are aggravating the situation. The consultancy firm reiterates that global cocoa stocks continue to ...

Source: Mercado Do Cacau