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(Bloomberg) -- Ghana's cocoa regulator, known as Cocobod, is still in talks with foreign lenders to raise a syndicated loan to fund the next season's crop, according to the country's finance minister."Cocobod is not abandoning the cocoa syndication," Mohammed Amin Adam told reporters in the capital, Accra, Monday."Negotiations are ongoing," Amin Adam said. But "it will not bring in more than $600 million" out of an initial target of $1.5 billion. This has pushed authorities to seek alternative sources of funding, he said.©2024 Bloomberg L.P.By Ekow DontohReported by Author [Extracted from the article]

Cocoa futures have reached a four-month low due to concerns about weak demand and increased supply. The price of cocoa has been higher than usual, leading to a decrease in demand and slower production. Chocolate companies, such as Nestle and Lindt & Spruengli, have warned of potential challenges in the second half of the year due to higher bean prices and a slowdown in the global chocolate market. However, there is optimism for the next season, as analysts predict a surplus after three years of deficit. [Extracted from the article]

Cocoa prices in New York have fallen after chocolate maker Lindt & Spruengli AG warned of a slowdown in the global chocolate market due to high prices. While Lindt reported growth in sales, the CEO stated that some products were experiencing a decline in demand. The increase in prices for consumers has helped offset the impact of expensive cocoa beans, but cost inflation is expected to continue. Poor harvests in West Africa have led to a historic shortage and doubled prices this year, but production is expected to improve with better weather conditions. [Extracted from the article]

Cocoa prices have fallen in New York after chocolate maker Lindt & Spruengli AG warned of pressures in the global chocolate market due to high prices. Despite reporting organic sales growth in the first half of the year, Lindt's CEO, Adalbert Lechner, noted a slowdown in the chocolate market for certain products. Price increases for consumers have helped offset the impact of expensive cocoa beans, but cost inflation is expected to continue into next year. Cocoa prices have doubled this year, although they have eased from a record high in April. The market's future direction and correction will depend on overall volume demand in the chocolate market. [Extracted from the article]

Cocoa futures have increased due to concerns about potential shortages caused by Ghana's plan to limit some supplies for the next season. Ghana, the world's second-largest cocoa grower, has informed buyers that it will determine the amount of specialty cocoa that can be sold based on total production, and will distribute beans fairly among buyers. Although cocoa prices have slightly decreased from a record high in April, they are still up approximately 90% this year due to poor harvests in West Africa. The decision to restrict purchases suggests that there are doubts about the extent of the country's crop recovery, despite favorable weather conditions and timely supplies of pesticide and fertilizer. [Extracted from the article]

Cocoa futures have increased due to concerns about shortages caused by Ghana's plan to limit some supplies for the next season. Ghana, the world's second-largest cocoa grower, has informed buyers that it will determine the amount of specialty cocoa that can be sold based on total production, and will allocate beans fairly among buyers. This move suggests that there are worries about the country's next crop not recovering as expected, despite favorable weather and timely supplies of pesticide and fertilizer. Poor rainfall in key growing areas of West Africa is also supporting the market. [Extracted from the article]

Ghana, the world's second-largest cocoa producer, is planning to limit some cocoa purchases for the next season due to severe shortages in the market. In a letter to buyers, Ghana stated that it will determine the amount of specialty cocoa that can be sold based on total production and will allocate beans fairly among buyers. This move suggests concerns that the next crop in Ghana may not recover as expected, despite favorable weather conditions. Ghana has had to postpone deliveries of 250,000 metric tons of cocoa to the next season due to a decline in production caused by swollen shoot disease. [Extracted from the article]

Cocoa futures have risen for a second day due to steady processing rates and a shortage of supply. Bean processing in North America and Europe has increased, while Asia has seen a slight decline. Despite higher bean prices, demand for cocoa remains strong, with some companies even reporting increased sales. The surge in cocoa prices this year has been driven by poor harvests in West Africa, but expectations of a better crop have helped stabilize prices. [Extracted from the article]

Cocoa futures have fallen for a second day due to improved weather conditions in key growing areas of West Africa, which has raised expectations for crop prospects in the next season. Prices have risen by around 90% this year due to poor harvests in top producing nations, leading to a significant shortage. Despite the recent decline, futures are still holding an upward trend due to concerns about long-term supply issues and political uncertainty in Ivory Coast. Weather forecasts predict isolated to scattered showers in parts of Nigeria and Cameroon, which will benefit crop growth. [Extracted from the article]

Cocoa processing in Europe unexpectedly increased in the second quarter, despite higher bean prices and expectations of weakened chocolate demand. The European Cocoa Association reported a 4.1% rise in processing compared to the same period last year, which was higher than anticipated. This surprising increase may be attributed to companies using stockpiles acquired before the price surge. However, low inventories and rising cocoa prices are expected to impact processing in the second half of the year. [Extracted from the article]

Shares of Barry Callebaut AG, the world's largest bulk chocolate maker, experienced a significant decline as investors expressed concerns about the impact of high cocoa prices on chocolate demand. Cocoa prices have more than doubled this year due to weak harvests in major producing countries, leading to fears that higher input costs could negatively affect chocolate sales. Despite boasting a loyal customer base and encouraging growth rates, Barry Callebaut is facing significant market headwinds. The company has been able to pass on price increases to most of its customers, but cocoa prices are expected to remain high. [Extracted from the article]

Cocoa processing in Europe unexpectedly increased in the second quarter, despite higher bean prices and expectations of weakened chocolate demand. The European Cocoa Association reported a 4.1% rise in processing compared to the same period last year, surpassing analysts' predictions. This surprising increase may be attributed to companies utilizing stockpiles acquired before the price surge. However, low inventories and rising prices are expected to impact processing in the second half of the year. Barry Callebaut AG, the largest bulk chocolate maker, experienced a decline in sales volumes and expects challenges ahead due to supply disruptions and higher cocoa prices. [Extracted from the article]

Shares of Barry Callebaut AG, the world's largest bulk chocolate maker, dropped 11% after reporting a slight decline in sales volume for the quarter through May. This decline in sales volume is attributed to the sky-high cocoa prices, which have more than doubled this year due to weak harvests in the main producing countries. Despite boasting a loyal customer base and encouraging growth rates, Barry Callebaut continues to face significant market headwinds. The company has been able to pass on the increased costs to the majority of its customers so far, but cocoa prices are expected to remain high this year. [Extracted from the article]

Cocoa processing in Europe unexpectedly increased by 4.1% in the second quarter, despite higher bean prices. This rise may be attributed to companies using stockpiles acquired before the price surge. However, low inventories are expected to lead to higher prices and a decrease in processing in the second half of the year. Chocolate demand is already showing signs of weakening as consumers resist higher prices. The world's largest bulk chocolate maker, Barry Callebaut AG, reported a decline in sales volumes and expects challenges ahead due to supply disruptions and rising cocoa prices. [Extracted from the article]

Cocoa processing is expected to slow down in the coming months as chocolate makers begin to feel the impact of expensive cocoa beans. Despite a shortage of cocoa beans driving prices to record highs, chocolate manufacturers have been using previously secured beans, which were purchased before the price increase. However, as these inventories run low, processors will have to purchase beans at higher prices, leading to a decline in cocoa processing in the second half of the year. This increase in costs is expected to be passed on to consumers, potentially causing a decrease in chocolate consumption. [Extracted from the article]

Cocoa futures in New York have increased due to concerns about a current stockpile drawdown, despite expectations of a surplus in next season's production. The rise in prices is attributed to supply tightness caused by bean shortages in the spot market following a poor harvest. However, favorable weather in Ivory Coast and Ghana is fueling expectations of a recovery in cocoa output for the upcoming season. The market is currently uncertain, and the futures need to break out of their current trading range to confirm the longer-term outlook. [Extracted from the article]

According to commodities broker Marex Group, cocoa production is expected to recover in the world's largest growers, putting an end to the recent shortage that caused prices to surge. Marex predicts that cocoa output will exceed demand by 303,000 metric tons in the upcoming 2024-25 season, marking the first surplus in three years. This recovery is attributed to improved weather conditions in West Africa, the top cocoa-growing region. As a result, cocoa prices have already decreased from their peak earlier this year, although they are still up by nearly 85% in 2024. [Extracted from the article]

Cocoa futures in New York have increased due to supply tightness, leading to a decrease in US inventories. Despite predictions of a surplus in cocoa production for the upcoming season, chocolate-makers are still facing shortages in the spot market due to a poor harvest. The market is currently uncertain, with the need for futures to break out of current resistance or support to confirm the longer-term outlook. [Extracted from the article]

According to commodities broker Marex Group, cocoa production is expected to recover in the world's largest growers, putting an end to the recent shortage that caused prices to surge. Marex predicts that cocoa output will exceed supplies by 303,000 metric tons in the upcoming 2024-25 season, marking the first surplus in three years. This recovery is attributed to improved weather conditions in West Africa, the top cocoa-growing region. As a result, cocoa prices have already decreased from their peak earlier this year, although they are still significantly higher than in previous years. Additionally, Marex forecasts weak cocoa demand in the coming months, despite the improved supply. [Extracted from the article]

Ivory Coast, the world's top cocoa grower, is expected to see a rebound in cocoa output next season due to better weather conditions. It is projected that the country will harvest 2 million tons of cocoa in the 2024-25 crop year, compared to the estimated 1.8 million tons for the current season. The country has already sold 800,000 tons of the upcoming harvest on the forward market, but forward sales have been paused by the industry regulator. The slump in cocoa production this season was caused by a combination of bad weather, disease, and aging trees in Ivory Coast and Ghana. However, prices have since eased due to optimism about improving weather conditions in West Africa. Ivory Coast is also taking measures to crack down on cocoa smuggling to neighboring countries, which will help boost supplies. [Extracted from the article]

Cocoa prices are experiencing a prolonged decline due to favorable weather conditions in West Africa, which is expected to support crop growth. This comes after poor harvests led to a global supply shortage and a surge in cocoa prices. However, concerns about shortages persist, and the market remains volatile. Hedge fund manager Pierre Andurand remains optimistic about cocoa, citing tight supplies and strong demand. [Extracted from the article]

Cocoa prices are on track for their longest decline in two years due to favorable weather conditions in West Africa, a crucial region for cocoa production. The optimism surrounding rains in certain African areas has put pressure on prices, as it is expected to support the current mid-crop and next season's output. However, concerns about shortages persist, keeping the market volatile. Despite the recent decline in prices, hedge-fund manager Pierre Andurand remains bullish on cocoa, citing tight supplies and stronger-than-expected demand. [Extracted from the article]

Consumers may reduce their consumption of chocolate as cocoa prices continue to rise, according to a Nestle executive. The price of cocoa futures has more than doubled this year due to a global shortage, making it more expensive to produce chocolate. While shoppers have not yet felt the full impact of the price increase, companies will eventually have to pass on the higher costs to consumers. Some chocolatiers have already raised retail prices or produced smaller bars in response to the supply crunch. Nestle plans to expand its program to boost the income of poor African farmers to 160,000 cocoa-farming families by 2030. [Extracted from the article]

Cocoa futures experienced a significant drop of 11% in New York, the largest intraday decline in a month, due to ongoing market volatility. This decline followed a three-day rally that had pushed prices above $10,000 per ton for the first time since April. The increase in prices this year was driven by poor harvests in Ivory Coast and Ghana, leading to shortages and concerns about exporters fulfilling contracts. However, Ghana expects its cocoa crop to recover next season, which may help stabilize prices. Mondelez International Inc. anticipates a drop in cocoa costs next year and aims to maintain affordable prices for chocolate products. Despite this, there is uncertainty about future bean availability, with concerns that a significant portion of expected deliveries for this year could be postponed, limiting new sales. As of 12:08 p.m. in New York, cocoa was down 5.8% to $9,522 per ton. [Extracted from the article]

Mondelez International, the company behind Toblerone and Oreo cookies, plans to keep its treats affordable while waiting for cocoa prices to decrease. The Chief Financial Officer, Luca Zaramella, expressed optimism that costs will come down in the future. However, there may be a temporary period where cocoa prices remain high, leading to a potential gap between costs and consumer prices. The company's strategy is to protect sales volume and market share during this time. [Extracted from the article]

Ghana is expecting its cocoa crop to recover next season due to favorable weather conditions and the timely supply of pesticide and fertilizer. The country, which is the world's second-largest cocoa grower, anticipates a harvest of 700,000 metric tons in the 2024-2025 season, following three consecutive bad harvests. The current season has seen a shortfall in production, leading to a global cocoa deficit and record-high prices. This has resulted in a decline in export revenue for Ghana and a depreciation of its currency. The Ghana Cocoa Board has taken measures to address these challenges, including providing farmers with necessary chemicals and fertilizers and implementing measures to prevent bean smuggling. The board is also working to comply with European Union deforestation regulations. [Extracted from the article]

Ivory Coast, the top cocoa producer, has implemented measures to address a shortage of cocoa supplies for local processors. This has led to a potential restriction on bean exports, further tightening the global market. The shortage has caused competition between local processors and shippers for beans, prompting complaints from local grinders. As a result, the regulator has informed companies and exporters without processing facilities in the country that they cannot purchase beans from the mid-crop until the end of the month. This move could exacerbate the global supply crunch and increase the risk of contract defaults for exporters. [Extracted from the article]

Cocoa prices have risen due to concerns about supply shortages, which caused prices to reach record highs in April. The market has rebounded by over 40% since then, as the world is expected to face a significant deficit. Poor harvests in West Africa, the largest cocoa growing region, have contributed to the high prices. Low exports from Ivory Coast continue to support the bullish market, and the International Cocoa Organization has raised its deficit forecast. Traders are awaiting further demand cues before making any significant moves in the market. [Extracted from the article]

Cocoa prices have risen due to concerns over supply shortages, which caused prices to reach record highs in April. Poor harvests in West Africa, the largest cocoa growing region, have led to a shortage of beans. Additionally, cocoa stockpiles in US ports have been declining. Analysts predict that prices will remain high due to the global shortage of cocoa beans. [Extracted from the article]

According to the International Cocoa Organization (ICCO), the cocoa shortage for this season will be larger than previously anticipated. The deficit is projected to be 439,000 tons, driven by increased cocoa grinding in consuming countries. Despite record cocoa prices, demand has remained strong. Poor harvests in West Africa have limited supplies and caused prices to surge, but they have since eased back. The ICCO has raised its estimate for global grindings and production. [Extracted from the article]

Ghana's trade surplus has decreased by 47% in the first four months of the year due to a decline in revenue from cocoa exports. This marks the sixth consecutive month that the trade balance of the country's cocoa industry has failed to expand compared to the previous year. The decrease in cocoa output is attributed to a combination of weather conditions, disease, and a shortage of fertilizer. However, revenue from gold exports and oil shipments have increased during this period. Other key economic indicators include a rise in total exports and imports, an increase in gross international reserves, and a widening budget deficit. The country's total public debt has also grown, but the debt ratio has eased. The banking industry has seen an increase in loans and an improvement in capital adequacy ratio, but non-performing loans have also risen. Additionally, there has been significant growth in monthly mobile-money transactions. [Extracted from the article]

Cocoa prices have fallen to a two-month low due to improved weather conditions in West Africa, which have eased concerns about supply shortages. Prices had reached a record high in mid-April due to poor harvests in Africa, but recent rains have alleviated supply worries. However, there are still concerns about a lack of fertilizer and pesticide use, which could impact output in the future. The rally in cocoa prices has been driven by the long-term underpayment of farmers in key growing regions, which has discouraged investment in plantations. [Extracted from the article]

Wheat prices experienced a significant surge, while cocoa prices slumped below a key level, causing fluctuations in crop futures markets. The increase in wheat prices was due to concerns about the weather in the Black Sea region, where a significant portion of the wheat crops in Southern Russia and Ukraine are expected to face drought stress. This has led to expectations of tighter global supplies and increased demand for American wheat, resulting in higher prices. On the other hand, cocoa futures fell due to rains in West Africa providing some relief to traders after a recent rally in prices. Additionally, a lack of buying from chocolate producers has contributed to the decline in cocoa prices. [Extracted from the article]

Cocoa prices have reached record highs this year due to poor harvests in West Africa, causing severe shortages. However, ethical chocolate maker Tony's Chocolonely argues that the long-term underpayment of farmers in key cocoa-growing countries like Ivory Coast and Ghana has worsened the crisis. The government-set prices in these countries are much lower than global prices, preventing farmers from investing in their plantations and limiting production. While Ivory Coast and Ghana have raised farmer pay in response to the rally, it still falls below global prices. Tony's Chocolonely CEO Douglas Lamont emphasizes the need for long-term support and investment in farmers to address this crisis. [Extracted from the article]

Cocoa futures in New York have increased due to concerns about the need for more rain in West Africa's main cocoa-growing areas. This comes as global shortages continue to affect the market. Cocoa prices have been volatile recently, reaching a record high in April due to poor harvests in the largest producing region. While there have been some isolated showers, more rain is needed to fully replenish soil moisture. Experts predict that cocoa production will fall short of demand in the coming seasons, leading to another deficit. [Extracted from the article]

Cocoa futures in New York experienced the largest price drop in over 60 years due to forecasts of increased rainfall in key cocoa-producing regions. The wetter weather outlook is causing market volatility, with the most-active contract in New York falling by as much as 19%. While the rain is expected to improve conditions for cocoa crops in Ghana, Indonesia, and Ivory Coast, more rainfall is still needed to alleviate the dryness affecting the crops. The combination of rain and sunshine has been beneficial for cocoa in Ghana, and growers hope this pattern continues. The low open interest in cocoa markets means that even small updates to weather forecasts or signs of decreased demand can cause significant price swings. The lack of moisture in West African cocoa producers, along with aging trees and disease, has already impacted supply. Although prices saw a 9% recovery last week, some experts believe that the record price set in mid-April will mark the peak of the recent rally. [Extracted from the article]

Cocoa futures experienced a significant price drop due to the forecast of increased rainfall in key cocoa-producing nations. The wetter weather is expected to improve conditions in Ghana and northern Indonesia, while the Ivory Coast still requires more rainfall to alleviate the dryness affecting crops. The lack of moisture in West African cocoa producers has already impacted supply, compounded by aging trees and disease. Although prices saw a 9% recovery last week, some experts believe that the record price set in mid-April will mark the peak of the historic rally. [Extracted from the article]

Farmers in the western part of Bahia state in Brazil are starting to cultivate cocoa for the first time, attracted by the potential profits. Agribusiness giant Cargill Inc. is partnering with Schmidt Agricola to plant 400 hectares of cocoa, while Swiss chocolatier Barry Callebaut AG plans to co-develop 5,000 hectares of cocoa plantations in the state. If production in the region takes off, Brazil could nearly double its cocoa output to about 400,000 metric tons by 2030, potentially reaching the No. 3 global spot. Farmers in other parts of Latin America, such as Colombia and Ecuador, are also expanding cocoa production. [Extracted from the article]

Cocoa futures in New York have risen slightly in quieter trading as more analysts believe that this year's rally in cocoa prices has reached its peak. The market remains volatile, but the price swings have been smaller compared to recent weeks. Analysts predict that cocoa prices will not return to normal levels quickly due to a deficit in production. However, weakening global demand and production responses may help alleviate the uncertainty in current futures pricing. Some showers are expected in West African nations, which could aid crop growth and improve soil moisture. [Extracted from the article]

Cocoa prices in New York have fallen as favorable rains are predicted for West African crops and Rabobank suggests that this year's historic rally has likely reached its peak. Cocoa futures dropped by up to 2.5% to $8,482 per ton. While volatility remains high, recent trading has been relatively calm compared to the significant price fluctuations of previous weeks. Rabobank analyst Paul Joules believes that while prices are unlikely to return to normal levels quickly, the peak of the rally has passed and prices are expected to decrease. Traders are closely monitoring crop conditions in West Africa, where most cocoa is grown, following poor harvests that have resulted in a third consecutive annual deficit. Some showers are expected in West African countries such as Ivory Coast and Ghana in the next five days, which could aid crop growth and improve soil moisture. [Extracted from the article]

European cocoa supplier Natra is in talks with lenders to secure financing for the potential acquisition of German chocolate business Gubor Schokoladen and Italian hazelnut-spread producer Nutkao. The company's owner, CapVest, is seeking debt proposals that could reach €700 million ($754 million) for both businesses. The talks reflect a resurgence of private-equity related mergers and acquisitions in Europe as credit markets improve. Natra, founded in Spain in 1943, produces a range of chocolate products. [Extracted from the article]

US cocoa futures experienced a significant rally, with prices surging up to 20% in the past two days. However, hedge funds have now exited their bullish bets, causing cocoa futures to relinquish most of their gains. Despite the recent rally, experts predict that cocoa prices will gradually retreat to levels closer to $5,000 per ton. This year, cocoa prices have reached unprecedented highs due to a global shortage of beans, but major chocolate companies argue that current levels are inflated and do not reflect the true physical situation. On the supply side, recent rain in West Africa has eased concerns about the mid-crop, although farmers remain worried about previous heat damage. Additionally, cocoa stockpiles held at US ports are at a three-year low. In contrast, sugar prices fell in New York due to a stronger dollar prompting producer selling from Brazil. [Extracted from the article]

Cocoa prices in New York have experienced significant volatility due to severe shortages in the market. After a recent slump, cocoa futures rose by 5.4% on Wednesday, contributing to a two-day increase of over 19%. The market has been affected by margin calls and a lack of liquidity, leading to traders exiting positions. Additionally, poor harvests in West Africa and falling cocoa stockpiles at US ports have contributed to the deficit. The market is also monitoring delayed supplies from West Africa, with Ivory Coast compensating exporters for rolled-over contracts but not meeting the full tonnage requested. [Extracted from the article]

Cocoa and coffee prices have become intertwined due to extreme weather and shortages, leading to rallies in both commodities. The concentration of cocoa and coffee production in two countries has caused a cash crunch for traders dealing in both commodities, forcing them out of the coffee market. While the cocoa rally has had a psychological effect on coffee, the two commodities have differences that may limit cocoa's impact on coffee. Coffee prices are expected to fare better than cocoa due to factors such as coffee growers replacing older plants and the global nature of coffee consumption. [Extracted from the article]

Ivory Coast has stated that it can compensate cocoa exporters for rolled-over contracts, but not for the full tonnage that shippers are requesting. The country's regulator, Le Conseil du Cafe-Cacao (CCC), met with exporters to discuss compensating for losses caused by an unexpected increase in the price paid to farmers. While exporters want compensation for around 150,000 tons of rolled-over contracts, the CCC is prepared to cover a smaller amount. The CCC is also considering reforming the way exporters purchase beans from farmers to help secure supplies during shortages. [Extracted from the article]

Cocoa futures in New York continued to decline on Monday, following last week's significant drop, as trading volume slowed during the London bank holiday. The most-active futures fell by as much as 6.9% on Monday due to a decrease in the number of contracts traded. Last week, cocoa markets experienced a 23% decline, the largest weekly drop since 1959, as increased margin requirements prompted traders to exit the market. Long-only positions reached a three-year low, short-only positions reached a seven-year low, and net bullish bets were at a 14-month low. [Extracted from the article]

Cocoa futures experienced extreme volatility this week, with prices dropping nearly 30%. Just two weeks ago, cocoa reached a record high of $12,000 per ton due to supply shortages. However, a sharp decline in prices, accompanied by significant price swings, led to traders leaving the market. This downturn is primarily due to trading maneuvers rather than a realignment of market fundamentals. Recent rain in West Africa may help crops, but more is needed to alleviate dryness. Ivory Coast and Ghana have increased prices paid to farmers, which could encourage more beans to enter the market. The unprecedented volatility in cocoa futures is a result of larger margin requirements, leading to the closure of positions and contributing to significant price swings. In other soft commodities, robusta coffee futures in London fell to a one-month low due to rising stockpiles. [Extracted from the article]

Chocolate makers such as Hershey, Nestle, and Mondelez are finding that cocoa prices have become detached from market fundamentals. While these companies have largely hedged their cocoa supply for 2024, executives believe that current prices are inflated and do not reflect the true physical situation. Cocoa prices have been volatile due to factors such as a production shortfall in Ivory Coast and Ghana, but a lack of liquidity is exacerbating price moves. Companies are now looking to protect their supply for 2025 and are exploring strategies such as diversifying sourcing and implementing flexible structures. [Extracted from the article]

Hershey Co. has reported higher sales and profits in the first quarter of the year due to increased prices in response to cocoa shortages. Sales in North American confectionery, the company's largest category, saw double-digit growth with prices up nearly 6%. The rise in cocoa prices is a result of poor harvests in West Africa, leading to cocoa shortages. Hershey is looking to diversify its cocoa supply in other regions to ensure long-term business resilience. Despite the volatility in cocoa costs, the company maintains its full-year forecast of net sales growth. [Extracted from the article]