Rains bolster cocoa outlook for Ivory Coast & Ghana
For top-producers Ivory Coast and Ghana, heavier precipitation across cocoa growing regions reported in the last week should help pod setting and growth. Of course, if rains are too heavy, there could be a risk of damage to flowers and pods that would otherwise develop into cocoa beans harvested later next season.
As is often the case, weather reports have vacillated between fears of inadequate rains and excessive humidity that could promote the spread of disease. Sizing and setting are reported as progressing apace in multiple Ivorian regions. In Ivory Coast, arrivals are unsurprisingly light as the focus turns to the new crop.
The markets will watch to see if Ivory Coast and Ghana can move forward in their cooperation on matters such as forward sales, farmgate pricing, and fighting the swollen shoot virus.
West Africa 10-day percentage of average
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