The cocoa market is one of the biggest trading volume commodities in the global forex market. The cocoa production had affected from the Ebola virus at the last years, but today there is no risky conditions in the biggest producer countries. According to estimates for cocoa production, it is expected that production will increase by around 20% as world-wide usage increases and the share of cocoa consumption in some economically strong countries increases. We can already say that climate and other conditions will be an important factor against this expectation.
The cocoa is traded in the US market and the starting point was at 3.017 level at the beginning of 2016. We can say the 2016 was a bad year for the cocoa traders certainly. At the end of the year, the closing level was 2.137,50. The market lost its about 50% value during the last year. With the beginning of 2017, there could be some recovery signals observed on the global cocoa market. The first signals are so positive and there is an expectation about increasing the production of cocoa in the biggest producers like Ivory Coast , Brazil and Ghana. Finally, cocoa is one of the most important industrial commodities of the world, and has gained importance at the last years with the increasing trading volume on the global forex market.
- Date: 08 January 2017 Sun 22:04
- Last Added
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