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Commodity: the cocoa market remains hectic at the start of the year

22/02/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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The cocoa market has remained turbulent since the beginning of 2023, with the trend towards volatility between uncertainties related to supply, demand, and the evolution of the global economy.

The price per ton of beans touched 2 155 pounds, its highest since 2016, last Friday, February 17 in London, while ' ' He is é Workbench à 2 798 $ New York, un niveau plus observ Àé depuis f style="font-family: "Bookman Old Style”, "serif"">February 2022. These spikes in the various commodity trading places reflect market concerns about a possible disruption in supply from Côte d'Ivoire and Ghana, which supply 60% of the world's cocoa. Jack Scoville, an analyst at Price Futures Group, points out in his daily market review that the weather conditions è chaudes et s style="font-family: "Bookman Old Style”, "serif">ches Who are currently é living in C ô and Ivory ' , could é Reduce harvest prospects é during the intermediate season, which is due to begin next April.

The cocoa harvest could be affected by tree diseases in Ghana. In addition to a context where in Côte d'Ivoire, local exporters style="font-family: "Bookman Old Style”, “serif” > fear a defect on their contracts due to a lack of nearly 150 000 tons of cocoa.

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