Ivory Coast Cocoa Crop May Fall 20% to 1.8 Million Tons as Pod Growth Lags
Updated
Updated · Bloomberg · Jul 2
Ivory Coast Cocoa Crop May Fall 20% to 1.8 Million Tons as Pod Growth Lags
1 articles · Updated · Bloomberg · Jul 2
Summary
1.8 million tons is the average estimate for Ivory Coast's next cocoa season starting in September, down from about 2.2 million tons this year.
Poor pod development on trees is driving the projected decline, according to early crop assessments from four traders and a market analyst surveyed by Bloomberg.
A drop of about one-fifth in output from the world's top cocoa grower would tighten global supplies and add pressure to the market.