U.S. cocoa bean stocks climb with arrival of main crop
As we near the end of Q1, cocoa bean stocks in licensed U.S. warehouses continue to seasonally climb with the arrivals of more main-crop beans from West Africa. We are already 5 percent above last year’s levels at this time, and inventories should continue to climb over the next quarter. Stocks will likely surpass 5 million bags and may reach as high as 5.5 million bags by the start of summer.
That sets a highwater mark exceeding 5 million bags by early summer and with any luck closer to 5.5 million. At 4,133,334 bags, we are still 3.5 percent behind the statistical five-year average.
The arrival of main-crop beans should place warehouse stocks in a good position ahead of a recovery in grind demand expected by the industry for later this year.
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