{"id":19779,"date":"2024-01-19T08:52:34","date_gmt":"2024-01-19T08:52:34","guid":{"rendered":"https:\/\/www.selinawamucii.com\/news\/?p=19779"},"modified":"2024-01-19T08:52:36","modified_gmt":"2024-01-19T08:52:36","slug":"cocoa-prices-on-the-rebound-even-as-rains-come-to-west-africa","status":"publish","type":"post","link":"https:\/\/www.selinawamucii.com\/news\/2024\/01\/19\/cocoa-prices-on-the-rebound-even-as-rains-come-to-west-africa\/","title":{"rendered":"Cocoa prices on the rebound even as rains come to West Africa"},"content":{"rendered":"\n<p>Cocoa ended January 18 on a higher note after a slump a day earlier occasioned by mixed demand. This is even as prospects of rain in West Africa bring hope of more supplies to curb present tight supplies..&nbsp;<\/p>\n\n\n\n<p>On January 17, cocoa prices in London and New York had lowered amid unpredictable demand blamed on reigning record-high prices.<\/p>\n\n\n\n<p>The price recovery a day later was due to renewed concerns of dwindling supplies in Asia. On January 18, the Cocoa Association of Asia stated that Asia\u2019s quarter 4 grindings had slumped by 8.5% from 2022\u2019s.&nbsp;<\/p>\n\n\n\n<p>Thus, March cocoa futures gained by<a href=\"https:\/\/www.msn.com\/en-us\/money\/markets\/cocoa-recovers-early-losses-as-global-cocoa-supplies-reman-tight\/ar-AA1nczyG\"><u>\u00a00.22%<\/u><\/a>\u00a0in New York on January 18. This is despite a slight loss in London of 0.46% on the same day due to mixed demand in Europe.\u00a0The rate fell to \u00a33,381 per tonne, which was nevertheless slightly better than \u00a0\u00a33,331 a tonne in late 2023.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-tight-supply-drives-price-amid-rain-prospects\"><strong>Tight Supply Drives Price Amid Rain Prospects<\/strong><strong><\/strong><\/h3>\n\n\n\n<p>New York\u2019s historically high prices on Thursday helps show the production dent in supply markets.<\/p>\n\n\n\n<p>In Ivory Coast, cocoa exports between October 2023 and mid-January 2023 fell by 37%, year-on-year. Since the country is the biggest cocoa producer in the world, any slight changes there impact world prices.&nbsp;<\/p>\n\n\n\n<p>Luckily, West Africa saw some slight&nbsp;<a href=\"https:\/\/www.selinawamucii.com\/news\/2023\/11\/21\/ivory-coasts-cocoa-bean-season-warms-up-to-fair-weather\/\"><u>rainfall from November<\/u><\/a>&nbsp;2023, which gives hope to the current crop. This is despite the region being in the middle of&nbsp;the dry season.&nbsp;<\/p>\n\n\n\n<p>The West African cocoa season runs from&nbsp;<a href=\"https:\/\/www.confectionerynews.com\/Article\/2024\/01\/10\/Rains-in-West-Africa-lift-cocoa-prospects-for-the-region\"><u>October to March<\/u><\/a>, which means a mid-spring 2024 supply rebound.<\/p>\n\n\n\n<p>Farmers in Ivory Coast briefed Reuters of&nbsp;some 7.6 mm of precipitation&nbsp;in the second week of January 2024. This was more than the usual 5.8 mm and it could bode well for the spring crop, nurturing large cocoa beans.&nbsp;<\/p>\n\n\n\n<p>In Ghana, meteorological predictions show the likelihood of rain in the next couple days. In 2023, the country upped<a href=\"https:\/\/www.selinawamucii.com\/news\/2023\/09\/13\/ghana-gives-cocoa-farmers-a-break-after-hiking-cocoa-bean-prices-by-63\/\"><u>&nbsp;farm gate prices<\/u><\/a>&nbsp;by 63% to bolster tight supplies at home and hinder smuggling.&nbsp;<\/p>\n\n\n\n<p>Rains, however, may end the low supplies o<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cocoa ended January 18 on a higher note after a slump a day earlier occasioned by mixed demand. This is even as prospects of rain in West Africa bring hope of more supplies to curb present tight supplies..&nbsp; On January 17, cocoa prices in London and New York had lowered amid unpredictable demand blamed on&#8230;<\/p>\n","protected":false},"author":3,"featured_media":19780,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v16.3 (Yoast SEO v20.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cocoa prices on the rebound even as rains come to West Africa - Selina Wamucii | Food &amp; Agriculture News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.selinawamucii.com\/news\/2024\/01\/19\/cocoa-prices-on-the-rebound-even-as-rains-come-to-west-africa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cocoa prices on the rebound even as rains come to West Africa - Selina Wamucii | Food &amp; Agriculture News\" \/>\n<meta property=\"og:description\" content=\"Cocoa ended January 18 on a higher note after a slump a day earlier occasioned by mixed demand. This is even as prospects of rain in West Africa bring hope of more supplies to curb present tight supplies..&nbsp; On January 17, cocoa prices in London and New York had lowered amid unpredictable demand blamed on...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.selinawamucii.com\/news\/2024\/01\/19\/cocoa-prices-on-the-rebound-even-as-rains-come-to-west-africa\/\" \/>\n<meta property=\"og:site_name\" content=\"Selina Wamucii | Food &amp; Agriculture News\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-19T08:52:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-19T08:52:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.selinawamucii.com\/news\/wp-content\/uploads\/2024\/01\/Cocoa-powder-1883108-e1705654343810.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"499\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Timothy Wahome\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Timothy Wahome\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.selinawamucii.com\/news\/2024\/01\/19\/cocoa-prices-on-the-rebound-even-as-rains-come-to-west-africa\/\",\"url\":\"https:\/\/www.selinawamucii.com\/news\/2024\/01\/19\/cocoa-prices-on-the-rebound-even-as-rains-come-to-west-africa\/\",\"name\":\"Cocoa prices on the rebound even as rains come to West Africa - Selina Wamucii | Food &amp; Agriculture News\",\"isPartOf\":{\"@id\":\"https:\/\/www.selinawamucii.com\/news\/#website\"},\"datePublished\":\"2024-01-19T08:52:34+00:00\",\"dateModified\":\"2024-01-19T08:52:36+00:00\",\"author\":{\"@id\":\"https:\/\/www.selinawamucii.com\/news\/#\/schema\/person\/8c0aad9a1f85037798080d75b4302cf8\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.selinawamucii.com\/news\/2024\/01\/19\/cocoa-prices-on-the-rebound-even-as-rains-come-to-west-africa\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.selinawamucii.com\/news\/2024\/01\/19\/cocoa-prices-on-the-rebound-even-as-rains-come-to-west-africa\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.selinawamucii.com\/news\/2024\/01\/19\/cocoa-prices-on-the-rebound-even-as-rains-come-to-west-africa\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.selinawamucii.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Cocoa prices on the rebound even as rains come to West Africa\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.selinawamucii.com\/news\/#website\",\"url\":\"https:\/\/www.selinawamucii.com\/news\/\",\"name\":\"Selina Wamucii | Food & Agriculture News\",\"description\":\"Discover the Latest in Food and Agriculture.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.selinawamucii.com\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.selinawamucii.com\/news\/#\/schema\/person\/8c0aad9a1f85037798080d75b4302cf8\",\"name\":\"Timothy Wahome\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.selinawamucii.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/636da6c8288b7dcaef01a42b50c3bc41?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/636da6c8288b7dcaef01a42b50c3bc41?s=96&d=mm&r=g\",\"caption\":\"Timothy Wahome\"},\"url\":\"https:\/\/www.selinawamucii.com\/news\/author\/twt4wahomegmail-com\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Cocoa prices on the rebound even as rains come to West Africa - Selina Wamucii | Food &amp; Agriculture News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.selinawamucii.com\/news\/2024\/01\/19\/cocoa-prices-on-the-rebound-even-as-rains-come-to-west-africa\/","og_locale":"en_US","og_type":"article","og_title":"Cocoa prices on the rebound even as rains come to West Africa - Selina Wamucii | Food &amp; Agriculture News","og_description":"Cocoa ended January 18 on a higher note after a slump a day earlier occasioned by mixed demand. 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