Cocoa prices have continued to rise at a significant rate throughout FY 2023. This is due to an anticipated supply deficit following 2 years of low supply leading to low stocks. Weather conditions in recent months have negatively impacted harvest in Côte d'Ivoire (Ivory Coast), and black pod disease may impact quality in main African producing countries. The forecast for FY 2023 is adjusted down by $200 million to $5.9 billion. Cocoa volumes are similarly adjusted down 0.1 million metric tons to 1.5 million metric tons. Ongoing supply concerns result in a further reduction in the FY 2024 import forecast to $5.8 billion.
ITB HOLDINGS LLC
390 North Orange Avenue, Suite 2300
Orlando, FL 32801
United States
T: +1 855 389 7344
T: +1 855 510 2240
T: +44 800 610 1577
https://www.femmart.com
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ID #51994
Published 2 years ago
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