Technical bull trap in the making for cocoa?

After finding a market bottom in Q1 at $2,200 per MT, cocoa futures have been consolidating; a double bottom held, and prices rose by 10 percent. Although the fundamentals have been less inspiring with lackluster Q1 grind results, the market looks technically vulnerable to [...]

Ivory Coast & Ghana cocoa figures estimated lower at end of April

Amid largely bearish updates on grind, potentially lower grind growth in 2019/20 could be at least partly matched by smaller West African cocoa crops. From October through April, we estimate cocoa arrivals could be down around 3 percent YOY from arrivals a year prior [...]

Cocoa grind growth mixed for major regions of use

European grind provided a more neutral tone at 373,625 MT in Q1 2020, up over 5% from Q4 2019 and up almost 1% YOY. This is a reversal from the previous three quarters, which all showed YOY declines. Asian Q1 grind was reported at [...]

Ivory Coast main-crop cocoa arrivals still seen down year on year

From October through the end of February, 2019/20 cocoa arrivals at major Ivorian ports were reported at just under 1.62 million metric tons (MMT), per CCC. This was a decline of 2 percent from arrivals for the same period last season. From October through [...]

Ouattara will not run for third term in Ivorian election

Ivory Coast president Alassane Ouattara has announced that he will not run for a third term, ending months of speculation. Ouattara had previously argued that his past and current term would not count towards term limits outlined in the country’s newly adopted constitution. The [...]

Ivory Coast, Ghana cocoa arrivals flat year on year

Light rains in West Africa should help tree condition, soil moisture, and pod setting and filling. Reports show atypically dry conditions overall, which is expected to further pressure the Ivorian midcrop, which could fall by an estimated 20 percent to 30 percent from the [...]

Cocoa midcrop concerns, election uncertainty catch spec interest

Cocoa prices have surged $450 per MT, up 20 percent from the start of this year. Although cocoa bean arrivals to date are running close to last year’s record crop, hot and dry conditions have sparked concerns for the potential of the coming midcrop. [...]