cocoa price

Gold, Cocoa Prices To Surge In 2025, But Crude Oil To Tumble – Report
14 Jan

Gold, Cocoa Prices To Surge In 2025, But Crude Oil To Tumble – Report

CUD WontumiBusiness,
Gold and cocoa prices are expected to perform strongly in 2025, while that of Brent crude will tumble. This would driven by geopolitical tensions, potential US Fed interest rate cuts, and supply shortfalls. According to Databank Research, gold prices may reach US$2,600-US$3,100, while cocoa prices could rise between US$7,000 and US$9,600. “We expect gold prices to trade higher in 2025, ranging from US$2600-US$3100 on the prolonged effect of geopolitical tension. We are optimistic about a recovery in gold prices throughout 2025 as geopolitical uncertainties are likely to drive safe-haven demand. Additionally, we foresee further interest rate cuts by the US…
Read More
Cocoa Price Now GH¢2,070
08 Apr

Cocoa Price Now GH¢2,070

wontumionlineBusiness
A 64 Kilogram bag of cocoa has been increased from GH¢1,308 to GH¢2,070 for the 2023/2024 crop year starting from Friday, April 5, 2024. In a statement issued and signed by the Chief Executive of the Cocoa Board (COCOBOD), Joseph Boahen Aidoo, the decision was taken in consultation with stakeholders. He also announced that the board has reviewed the buyers’ margin to GH¢2,980.00 per tonne for the rest of the 2023/24 cocoa crop season. “The Producer Price of cocoa has been increased by 58.26% from GH¢20,928 per tonne to GH¢33,120.00 per tonne for the rest of the 2023/24 cocoa season.…
Read More
Climatic Conditions Lead To Historic Cocoa Price Spike
13 Mar

Climatic Conditions Lead To Historic Cocoa Price Spike

wontumionlineBusiness
Climatic conditions are contributing to a poor cocoa crop which has shot up cocoa prices to previously unseen levels. Cocoa prices have reached over $7,300 per metric tonne after having ranged from about $2,000/MT to $3,000/MT over the last 20 years. The El Nino Southern Oscillation (ENSO) is a natural climate phenomenon that can lead to warmer temperatures in tropic zones. This phenomenon has led to record temperatures that have adversely affected cocoa output in both Cote d’Ivoire and Ghana, the two leading producers of the crop. According to Euronews, cocoa shipments were down 39% in Cote d’Ivoire from October…
Read More