Can Ivory Coast & Ghana limit their cocoa output?

Ivory Coast raised its farmgate price 10 percent, while Ghana raised its farmgate price 8.4 percent. The market can read the announcements as a signal that the two countries are serious about coordination and cooperation. The question is whether they will have the resolve [...]

Ivory Coast, Ghana, Cameroon cocoa update

Ivory Coast arrivals reach 2.12 MMT: Arrivals through Jul. 31 reached 2.12 MMT, up 9.6 percent YOY, per CCC data. Ivorian grind totaled 455,131 MT, up 8.0 percent YOY, per GEPEX data reported by Reuters. Ghana production down from forecast: As previously reported based [...]

Cocoa breaks down to some key technical support levels

A day after the Federal Reserve cut a quarter of a point in reaction to weaker economic signs, cocoa prices continued to sag. Prices ended the last day of July hovering just above two key technical levels of support: the 200-day moving average ($2,344) [...]

Announced minimum floor price whets speculator’s appetite for cocoa

News surrounding a higher minimum support price for cocoa in Ghana and Ivory Coast to lift grower income is adding fuel to the current speculatively led bull rally in cocoa. Last month in Accra, cocoa regulators from these countries met with industry participants to [...]

Cocoa 2019/20 selling; top origins seek 2020/21 price floor?

As speculators have been establishing new longs and buying into strength, Ivory Coast and Ghana have been busy forward selling next year’s crop and working to coordinate their cocoa activities. One month ago, speculative funds were effectively flat, neither long nor short. Since then, [...]