World: Cocoa prices continue to rise and tensions in supply increase

Yesterday, March 20th, the cocoa market started the day with a downward trend on the New York Stock Exchange, however, it surprised by closing higher, reaching a new record. Cocoa contracts for May ended the day with an increase of 3.7%, reaching a value of US$8,324 per ton. This upward movement confirms the continued appreciation of this important agricultural product. As prices continue to rise, signs of tension are beginning to emerge in the global cocoa supply picture. According to information from Bloomberg, the company Guan Chong Bhd, one of the world's leading cocoa processors based in Kuala Lumpur, is expanding its search for cocoa in various origins, including Ecuador, Peru and Indonesia. This broader search is a response to concerns that traditional cocoa suppliers in Côte d'Ivoire and Ghana may face difficulties in meeting contracted deliveries, given the unstable conditions in their production regions. At this moment, today, March 21, the New York Stock Exchange has ...