cocoa price fell to its lowest level since January on the back of improved crop prospects in Côte d'Ivoire, the world's largest manufacturer of the product. Coffee is also deposited their price positions, and vice versa sugar has risen in price on world commodity markets, writes IA “I-Zerno”.
Rains in Côte d'Ivoire were almost the norm at the end of March and beginning of April. Besides, This week again expected to increase rainfall. This will significantly enhance the productive capacity of, noted meteorologists.
In the first quarter of the cocoa price rose 5,2% amid speculation on the reduction of crops in the country because of the dry weather.
The forecast for the cocoa harvest in Ivory Coast, which will be collected during the period from April to September, increased. The reason for this became fertile rains in the Republic of the Ivory Coast.
Contracts for the supply of cocoa in May fell 2.8%; price is fixed at 2083 dollars per ton on the stock exchange ICE Futures U.S in New York. Prices continue to drop sixth straight trading session. This is the most prolonged decline in the quotations from 9 December. Earlier, the price of cocoa was 2060 dollars. This is the lowest price in the last mark 3 of the month, analysts noted.
Coffee “Arabica” for delivery passed their position in May 0.3%, before 1,8475 per pound in New York.
Futures on raw sugar for July delivery become available in the New York trading on 0,3%, and sold on 23,54 cents per pound.
At the London auction NYSE Liffe cocoa futures, coffee “Robusta” also fell slightly in price, but the quotes on the contrary grew sugar.
Leave a Reply