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Top related persons:
Michele Buck - 1 Paul - 1
Top related locs:
Sinfra Ivory Coast West Africa Cocoa
Top related orgs:
Hershey - 1 CNBC - 1 National Confectioners Association - 1 Rabobank - 1 International Cocoa Organization - 1

Search resuls for: "Sinfra"


2 mentions found


☆ Cocoa prices tumble 19%, giving up a chunk of their record-setting gains
  + stars: | 2024-05-13 | by ( Samantha Subin | ) www.cnbc.com   time to read: 1 min
A farmers holds cocoa beans while he is drying them at a village in Sinfra, Ivory Coast, on April 29, 2023. Cocoa prices dropped more than 19% on Monday, giving up a large part of the strong gains that lifted them to all-time highs earlier this year. Prices last traded at around $7,175, after dropping about $1,700 per metric ton. Earlier in the year, cocoa futures hit a record of $11,722 per metric ton. Cocoa prices soared this year amid a shortage of cocoa beans due to supply disruptions, including heavy rains and disease.
Locations: Sinfra, Ivory Coast
☆ Cocoa prices are soaring to record levels. What it means for consumers and why 'the worst is still yet to come'
  + stars: | 2024-03-26 | by ( Spencer Kimball | ) www.cnbc.com   time to read: +1 min
A farmers holds cocoa beans while he is drying them at a village in Sinfra, Ivory Coast, on April 29, 2023. Consumers could start to see the effect of surging cocoa prices as the world faces the worst supply deficit in decades, with farmers in West Africa struggling against bad weather, disease and failing trees. The world is facing the largest cocoa supply deficit in more than 60 years and consumers could start to see the effect at the end of this year or early 2025, Joules said. The International Cocoa Organization has forecast a supply deficit of 374,000 tons for the 2023-24 season, a 405% increase from a deficit of 74,000 tons in the previous season. Cocoa prices will likely remain elevated for some time because there are no easy fixes to the systemic issues facing the market, he said.
Persons: Michele Buck, Paul Organizations: Hershey, CNBC, National Confectioners Association, Rabobank, International Cocoa Organization Locations: Sinfra, Ivory Coast, West Africa, Cocoa
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