Coffee and cocoa saw fluctuations early Friday, but some analysts that the price will decline in the long term.
Shipments of cocoa from a West African nation drove nearly 15 percent higher during the five-month period leading up to the end of this past January as compared to the same period last year, according to the nation's board for the soft commodity. Reuters reports the National Cocoa and Coffee Board of Cameroon indicated the… Read more.
Cocoa is the common name for a powder derived from the fruit seeds of the cacao tree. The Spanish called cocoa “the food of the gods” when they found it in South America 500 years ago. Today, it remains a valued commodity.
Heavy rains in West Africa's dry cocoa plantations are prompting analysts to reduce their projections for shortages of the soft commodity, according to Bloomberg. The region provides the world with roughly 69 percent of its cocoa beans as Ivory Coast and Ghana are the world's top two cocoa-producing nations. The nourishment for the plantations is… Read more.
Indications of a surplus of supplies dragged down cocoa futures to their lowest price in one month, Bloomberg reports. Two West African nations, Cameroon and Ivory Coast, are showing signs of rising supplies of the soft commodity. Deliveries to port in Ivory Coast, recognized as the world's top producer of cocoa, increased 25 percent this… Read more.
Japan, the globe's third-largest economy, is devoting efforts to widening cooperation with alternate coffee purveyors in Africa as part of an effort to encourage cooperation, according to the nation's trade organization. Bloomberg reports Japan will make more purchases of the soft commodity from nations such as Uganda, Rwanda, Malawi and Cameroon, according to an official… Read more.