Without a doubt, 2019 was heavily influenced by the decision taken by Ivory Coast and Ghana to take control of its cocoa prices.
Last year’s IEG Vu Global Outlook indicated that the unease which followed the drastic fall in global cocoa prices in 2017 and the new attempt by major producers to gain control of pricing, would likely continue in the year just ending.
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North American cocoa grindings in Q4 fell by 5.9%, data from the National Confectioners Association (NCA) showed on Friday (January 17).
Cocoa processing in Asia climbed by 8.67% from a year earlier in Q4 figures, the latest data from the Cocoa Association of Asia (CAA) showed.
The seasonal focus on African mid-crop weather appears to have offered cocoa futures some respite from recent selling pressure.
European cocoa grindings saw another marginal year-on-year fall in its Q4 results, the European Cocoa Association (ECA) indicated in its latest report.
Cocoa prices settled mixed on Thursday (January 16) with New York cocoa at a 1¾-month high, on an outlook for a global cocoa deficit.
Cocoa arrivals into Ivorian ports continued increasing this week, exporters estimated.
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