Cocoa gains prominence in international markets

(Agraria.pe) The recent surge in cocoa prices has marked a milestone for the international agricultural sector. According to Gilder Meza, a specialist in the cocoa production chain, the inclusion of this product in the prestigious Bloomberg Commodity Index (BCOM) has been a turning point for the market, with an estimated weighting of 1.7% and over 109 billion dollars managed in assets. "This incorporation is expected to attract flows close to 1,900 million dollars towards cocoa futures in the coming months," says Meza. This financial boost is compounded by the weakness of the British pound, which has fallen to its lowest level in almost seven months, favoring cocoa prices quoted in that currency. However, the market dynamics are not exclusively financial. "Ivory Coast, the world's largest producer, has recorded a 16% reduction in its exports, reinforcing supply tensions," highlights Meza. ICE inventories recently reached their lowest level in over seven months, with only 1.81 ...