Reported 28 days ago
Pierre Andurand, a renowned oil trader, has decided to withdraw from his cocoa investments after experiencing significant losses due to unexpected market volatility. Following a dip of over 57% in his main fund through June, Andurand's ventures into cocoa—initiated in early 2024—faced challenges due to fluctuating prices and a mismatch in supply and demand. Although his team initially saw profit potential, extreme market reactions and external economic factors hindered performance, leading to the decision to reduce cocoa exposure across his funds.
Source: YAHOO