The price of cocoa stood at USD 7,385.5 per metric ton at 11:00 on May 13. The value has fallen 36% since May 19.
He cocoa price in the international market it continues to decline. At 11:00 on May 13, it was located in USD 7,385.5 per metric ton.
That means that since April 19, when it reached its highest peak with a value of USD 11,499, the price has fallen 36%according to the report on the Investing.com page.
The fall in price responds to the fact that speculators They are liquidating the purchases they made weeks ago in the futures market to get benefitsexplains Merlyn Casonova, executive director of the National Association of Cocoa Exporters (Anecacao).
“Considering the high volatility the price of cocoa has had in recent weeks, it is unknown what its behavior will be in the short term,” Casanova clarifies.
Effects for producers and exporters
Casanova explains that due to the fluctuation in the price of cocoa in the international market, several network actors have lost moneyin the event of breaches of contracts by intermediaries.
Ecuadorian exporters had already warned difficulties paying current prices of cocoa to producers, after they reached historic rates.
Purchase delays
The exorbitant cocoa prices have their origin in a fall in the harvest of the African countries of Ivory Coast and Ghanaresponsible for 60% of world grain production.
Ivory Coast is he largest cocoa producer in the world, with a volume of almost seven million tons of grain per year, while Ghana is third, with a production of 1.3 million tons per year.
But now the signs that the commercial companies are delaying some of his West African cocoa purchases until next season they have put downward pressure on prices, states the Hightower Report, cited by Bloomberg.
According to the same report, the drop in prices could offer relief to cocoa buyers.
