As the main cocoa harvest begins, top origin faces port strike

Dockworkers are striking in the major exporting coastal city of San Pedro in Ivory Coast, disrupting the normal flow and loading of cocoa beans destined for markets around the world. Strikers are protesting for higher wages and have blocked roads used to transport cocoa [...]

Brief rally for cocoa; major origins boycott cocoa conference

Most-active Dec-22 NY cocoa broke above its short-term trading range Tuesday, closing at a two-week low above its 20-day average and retracement resistance below $2,340. The contract is now in the lower end of its four-month range—excluding a brief dip to its $2,243 contract [...]

Cocoa grinds slow in Q3, closing crop year on a soft note

Although some regions of the world continued to experience solid growth in grind numbers throughout the 2021/22 season, chinks in the armor were seen, with at least two main regions starting to show weakness. Calendar-year Q3 (July to September) marks the end of the [...]

Benchmark NY cocoa falls to nine-session low

After rallying over recent weeks, most-active Dec-22 NY failed to break retracement and psychological support near $2,400 last week. The contract tested that level at the start of this week but fell in the first three sessions, closing Wednesday at a nine-session low of [...]

2022/23 cocoa harvest begins with sharp hikes in farmgate prices

The main-crop season started on Oct. 1 with an increase to the farmgate price for Ivory Coast farmers. The price was raised from 825 CFA to 900 CFA francs per kg (about $1.36 per kg) in a bid boost incomes and improve the livelihoods [...]

2022/23 farmgate prices announced Dec-22 NY cocoa tests $2,400 level

Harvest of new-crop cocoa has begun in Ivory Coast, with a farmgate price up 9 percent YOY. Ghana raised its farmgate price 21 percent YOY this week, but its new price is still below Ivory Coast’s in dollars. The disparity between Ivorian and Ghanaian [...]

NY cocoa rebounds off Monday’s new contract low

On Friday, Sep. 26, the most active Dec-22 NY cocoa contract closed below the lower Bollinger Band and prior retracement support below $2,290. The contract traded lower still Monday to a fresh low of $2,243 and tested key psychological support around $2,200 on additional [...]

ICCO raises projected cocoa deficit for 2021/22

With one month remaining in the season, ICCO officials raised their 2021/22 deficit estimate to 230,000 MT this last week. Per Reuters, officials cited solid growth in demand in the current season as the principal driver of the shortfall, with Asian and European grind [...]

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