This year has seen a significant surge in cocoa futures prices, reaching record highs due to poor crop yields in major West African producers. This situation has led to a predicted third consecutive year of global supply deficit, with prices continuing to rise despite being in overbought territory. The focus is now shifting towards the upcoming crop season in West Africa, which is expected to see a decline, further intensifying the supply concerns surrounding cocoa.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
Futures prices have more than doubled to record highs this year as weak crops at key West African producers put the world on track for a third straight annual supply deficit, ISNA reported. That rally has pushed prices into overbought territory for much of the past month, although cocoa has continued to rally. The focus is now on the upcoming West ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes.
To learn more about our cookies, please read our Privacy Policy.