Recent Cocoa Price Surge Linked to Reduced Cocoa Production in Ivory Coast
Monday, 15 July 2024, 16:20
Cocoa Prices Surge
Cocoa prices saw a notable increase today, with September ICE NY cocoa rising by 3.27% and September ICE London cocoa #7 by 3.06%.
Reason for Surge
The surge in prices is primarily linked to reduced cocoa production in the Ivory Coast, the largest cocoa producer globally.
- Ivory Coast faces challenges with cocoa production
- Government data confirms lower production levels
- Impact on global cocoa market
Overall, the market reaction indicates a significant shift in cocoa prices following this development.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.