@collapse2050 (not doubting the veracy of the data but still asking, just for the principle of it) what are(is) the source(s) of the data displayed in this graph? Which unit are represented on they y axis?
@collapse2050 We're a bit out from when these futures settle.
@collapse2050 There was either a crop failure in Africa or Nancy Pelosi just invested in chocolate.
@collapse2050 what's cocoa used for, again?
@collapse2050 Business opportunity: Make a production of cocoa-free chocolate by using precision fermentation. #precisefermentation
@collapse2050 Damn, should've bought cocoa futures a year ago
Nope. No questions, just an answer. "Cocoa prices have been on a tear due to supply disruptions in the key producing nations of Ivory Coast and Ghana, Joules said. The two countries represent about 60% of global cocoa production. Crops have been hit by black pod disease and swollen shoot virus and many trees are past their maximum yield potential because there has not been a major round of planting since the early 2000s, Joules said. Heavy rains exacerbated the disease issues, Branch said, and the El Niño weather phenomenon has also led to drier conditions resulting in lower cocoa yields in previous years. Seasonal harmattan winds were more extreme this year, also affecting crop yields, Branch said. Farmers in Ivory Coast are increasingly exiting cocoa production for more lucrative crops such as rubber, Joules said. The governments of Ghana and Ivory Coast set fixed prices for the farmers at the start of the season so they are not benefiting from the currently rally, the analyst said. The recent runup is likely due to panic among some commercial buyers rather than market speculation, Joules said. Buyers see the magnitude of the supply deficit and are trying to secure the cocoa that is available, according to the analyst." Glad to help. w.