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Cocoa Market Update: Prices Rise as Stocks Fall

At the end of July 2024, WPI published an article looking at the drivers of the cocoa market’s massive rally in 2023 and 2024 and that offered an outlook for MY 2024/25. This article offers a brief update on market conditions and developments that have occurred in the two months since our last analysis.   Short-Run Dynamics ICE cocoa futures have rallied sharply this week with the March contract up $669/MT amid tighter global stockpiles, currency dynamics, and West African cocoa production. ICE-monitored cocoa inventories in U.S. ports have been trending lower for the past 15 months and hit a 15-year low on Tuesday at 1.998 million bags. London cocoa futures also added to their gains this week when the British pounds slipp...

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From WPI Consulting

Infrastructure investment due diligence

On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.

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