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Cocoa future prices continue to wane – despite grindings up in North American and Southeast Asia


Cocoa future prices continue to wane – despite grindings up in North American and Southeast Asia
By Anthony Myers
Cocoa prices continue to struggle, despite an increase in grindings reported in North America and Southeast Asia and is still ‘the worst performing commodity of the year,’ according to some analysts.
The raw material for chocolates, baked goods and ice cream, is down more than 8% in price since the start of 2021, totally missing the inflation boat that has buoyed countless commodities from soybeans to copper and lumber, reports investing.com​.
The COVID-19 pandemic has reduced the global demand for chocolates and related treats, and cocoa has struggled to recover due to over supply from Cote d’Ivoire and Ghana, the world’s biggest producers of the crop. ....

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