Kakao -Market resumes its profits amid the fear of supply

Cocoa futures have returned to achieve profits after the biggest weekly loss since October, due to ongoing fear of supplies causing significant fluctuations in the high price market. Prices in London and New York rose by 4% on Monday before falling somewhat. This increase has come after New York’s term fell by more than 15% last week, which is the largest decline since the end of October. Fear of crops in West Africa, where most global production is concentrated, affected the market, which made Kakao one of the most popular goods during the year. Some traders earn profits due to high standard prices, but others express their concern that the poor harvest means a greater shortage of supplies, especially as the shares approved by the stock exchanges still fall to reach their lowest levels in nearly two decades. Wheat crops in other agricultural markets have risen wheat prices amid fear that dry weather could push crops in Argentina. Although the expected rain can help reduce the pressure on plants this week, the effect of dry weather is still dangerous, according to a report issued by ‘Commune Weather Group’. Wheat profits and other grains also received “prizes in support of good weekly export sales with the approaching sessions of 2024,” according to the analysts at Argus, with reference to modern US data. Prices have raised by cocoa futures.