Ivory Coast Cocoa Beans insights

By: Claudemir Zafalon The cocoa market is experiencing a new price increase, driven by favorable technical factors, unfavorable weather forecasts and rumors of lower quality of the beans recently harvested in Ivory Coast, the world's largest producer of the commodity. With the market sensitive to these conditions, investment funds are increasing their purchases of cocoa, further pushing up prices.

Farmers in Ivory Coast, the world’s largest cocoa producer, are optimistic about the quality and volume of this year’s main crop, which runs from October to March. With light rains and sunny spells predominating in the main growing regions, a healthy and abundant harvest is expected until at least the end of December. This forecast is a relief for producers, especially with the arrival of the dry season, which runs from mid-November to March and is characterized by low rainfall. Although rainfall in recent weeks has been slightly below the historical average, the sunny spells have helped dry the beans, reducing the risk of disease and ensuring a high-quality product. Promising harvest through January Farmers are reporting a significant number of large pods on the trees, indicating that many beans will be ready for harvest between November and December. According to Kouassi Kouame, a producer near the Soubre region, where 1

This morning, the cocoa market reached a new peak after breaking through the technical resistance of $7,250 in the March contract, quickly reaching the range between $7,500 and $7,550. This movement activated protective orders (stops) and lifted the market to levels that reflect a combination of adverse weather factors and critical inventory levels.