Archive for the ‘Cocoa Futures’ Category

Cocoa Futures Making Run to Multi-Year Highs as Butter Trade Expands

Cocoa futures are rallying to multi-year highs with the pick-up in demand from cocoa exporting nations in SE Asia as well as Europe. Cocoa futures are up 12 points today currently trading at $3,279 per ton at the Intercontinental Exchange.

Malaysia has emerged as a major cocoa butter exporter since 2007 and last year exported 103 tons of product – 65% more than the year prior accounting for 20% of total US cocoa butter imports. The European countries of Estonia, Germany, and the Netherlands were also main global suppliers of cocoa butter last year.

Cocoa futures trend is up with a recent resumption of the up-trend only this month. Key resistance for cocoa futures is at 3400 which is well within reach…


Industry Experts See Higher Cocoa Prices for Next Season

Cocoa futures have backed-off its yearly highs made last month, but forecasts from industry experts agree new highs are expected by the end of the year due to a cocoa industry shake-up. Cocoa futures are down two points currently trading at $3,114 per ton at the Intercontinental Exchange.

Ecobank – a pan-African banking conglomerate – agriculture advisers claim cocoa prices are poised to break out above the current July yearly high (nearly $3,400/ton) before October because Africa’s top producer and exporter of cocoa beans are taking steps to corner a bigger share of the market. The West African cocoa bean growing season starts in two months and already they predict a continued supply shortage amid global demand allowing for higher producer prices.

Cocoa futures trend is currently down at this time, but looking more like a retracement lower from the July high. More upside action will have to unfold before the overall cocoa futures uptrend resumes, but if you notice higher cocoa prices down the road…this is what’s going on where cocoa beans originate.


Cocoa Futures Rally Emerges With Chocolate Shortage

With cocoa futures rising with the current chocolate shortage, a former European banker is betting on reviving cocoa farming in the Amazon basin where the bean once flourished. Cocoa futures are up 14 points (as of this writing) in New York at the Commodity Exchange Center.

There is actually a Latin America push to get cocoa beans growing in South America in similar growing conditions than the West African cocoa farmer counter-parts. The African cocoa trade dominates the industry with 70% of the market, but the push really comes from recent drought in Africa preventing supply to meet demand.

Cocoa futures trend is recently up. Although I don’t trade cocoa futures any longer, I do monitor it as it tends to coincide with my preferred confectionery market of sugar.

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