<
https://www.cnbc.com/2024/02/08/cocoa-prices-surge-to-all-time-highs-as-bad-weather-hurts-west-africa-crop-yield.html>
"Cocoa prices have surged to all-time highs this week as bad weather conditions
hammer crop yields in West Africa, home to three quarters of the world’s
production.
Cocoa futures prices have surged more than $1,000 or nearly 40% since the start
of the year to hit an intraday all-time high of $5,874 per metric ton Thursday.
The El Nino weather phenomenon is causing drier temperatures in West Africa,
hurting crop yields in Ghana and Ivory Coast, the two largest producers of the
bean.
“The changing weather patterns means that the potential yields of cocoa are now
permanently impaired,” Humza Hussain, a commodities analyst at TD Asset
Management, told
CNBC Thursday."
Via Esther Schindler.
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
