Cocoa contracts are down over 3%!
The prices of cocoa futures contracts have been under significant pressure for a long time, mainly due to signals regarding future supply. A crucial factor for the market today is Ecuador's announcement of a substantial increase in cocoa production, as the country consistently invests in the development of cultivation and improvement of efficiency. Ecuador has several systemic advantages over its competition, which it plans to leverage to produce as much as 650,000 metric tons of cocoa by 2026.
Source: xStation
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