Cocoa bean stock market

Posted: shkots Date: 20.06.2017

Cocoa prices are in a meltdown, hitting a four-year low due to an abundant supply and weakening demand as growing health consciousness grips consumers. A bumper crop last season from benign weather in West Africa is weighing down prices. Ivory Coast and Ghana are the world's top producers of cocoa beans, accounting for more than two-thirds of global supply.

In the largest cocoa producing country of Ivory Coast, beans are piling up at warehouses and ports as exporters who put in bids for the commodity at high prices are now stuck with stock they're unwilling to sell at a loss, Reuters reported in January. Sales by volume increased by just 0. In , volume sales fell 2.

Annual cocoa production is about 4 million tons and many traders are expecting a supply surplus this year. The ICCO will release its projections for the current cocoa year later this month. In China , retail volumes of chocolate likely fell 4 percent to , tons in Market research firm Euromonitor attributed this decline to a growing awareness about health, a slowdown in discretionary spending, and only marginal product innovation.

This lead to a slowdown in demand, as consumers are typically drawn to novel line extensions," wrote Euromonitor analysts. Survey results released in late-January from the inter-government International Cocoa Organization showed almost unchanged global stock level as of September 30—a signal that there was little drawdown—spooking the market, which had been expecting a production deficit in the marketing year. All is not bad news, however, as consumers are still eating chocolate, just higher quality products.

On January 25, largest global cocoa processor Barry Callebaut AG said its overall sales volumes were flat in its fiscal first quarter although revenue rose 4. The Swiss company posted a Phillip Futures' Chong said despite current bearish sentiment, chocolate lovers will continue to chase the sugar high. Such trends take a much longer period to make a significant difference," he said.

cocoa bean stock market

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cocoa bean stock market

Demand fundamentals are also poor as weight-conscious consumers are cutting down on snacking. To view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. YOUR BROWSER IS NOT SUPPORTED. Please upgrade to watch video. The requested video is unable to play. The video does not exist in the system.

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