Cocoa has not been so cheap for ten years
Global cocoa prices reached near historically low levels for ten years with continuous decline. The decline was caused by the fact that the increase in Chinese demand is less than expected, therefore a surplus occured – the CEO of the Conclude Investment Ltd. told MTI.
Juhász Gergely said that the International Cocoa Organization (ICCO) forecasted in March that the supply of cocoa on the world market could exceed its demand for a longer time. Basically, this prognosis resulted in the decline in cocoa prices since April 2016. (MTI)
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