Reported 12 months ago
According to commodities broker Marex Group, a recovery in cocoa production in the world’s largest growers is expected to bring an end to the massive bean shortage that drove prices to record highs. Marex anticipates that cocoa output will exceed demand by 303,000 metric tons in the upcoming 2024-25 season, marking the first surplus year after three consecutive seasons of deficit. The rally in cocoa futures, which doubled in the past year due to supply shortages, attracted renowned energy trader Pierre Andurand, who remains bullish on cocoa. Improved weather conditions in West Africa, the top growing region, are expected to drive the rebound in cocoa output next season.
Source: YAHOO