Coronavirus has reduced the demand for cocoa in the world

Published 2021년 2월 8일

Tridge summary

The pandemic-induced closure of restaurants has led to a decrease in cocoa demand and subsequent drop in chocolate product prices, according to XTB expert Michal Stayniak. However, he anticipates a rise in prices due to the anticipated reopening of restaurants and potential issues with cocoa bean harvest, such as strikes in Côte d'Ivoire and adverse weather conditions. This could result in cocoa prices reaching 2.9 thousand US dollars per ton, although this is lower than the record of five years ago when prices were 3.4 thousand US dollars per ton.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The pandemic led to the closure of restaurants, which, in turn, helped reduce demand for cocoa and, consequently, lower prices for chocolate products. This was reported by the portal WH.pl with reference to the statement of XTB expert Michal Stayniak. However, he emphasizes that prices can be expected to rise in the near future. On the one hand, restaurants will open in other countries, on the other - there will be problems with the harvest of cocoa beans. Strikes in Côte d'Ivoire and uncertainty about farmers' future could reduce supply. As well as adverse weather ...
Source: AllRetail.ua

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