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Amazing! The end of the cheap chocolate is coming?

  • Author:chocolate-machines.com
  • Source:chocolate-machines.com
  • Release on:2017-06-02
New York time on Friday, the United States Intercontinental Exchange (ICE) July cocoa futures contract rose 6.6%, to 2037 U.S. dollars / ton, recorded the largest one-day increase in January 2012. Bloomberg data show that the day's total trading volume is 70% higher than the 100 day moving average. Cocoa prices bounced back after hitting near 10 - year lows in April. Cocoa prices have soared and the cocoa Kingdom, Ivory Coast, is tight, and these signs suggest that the cost of chocolate will rise.

Cocoa futures contracts rose by 6.8% in July. West African growers are locked in early next year, and sales may exceed traders' expectations, or this means that cocoa supply will begin to fall this year. The prospect of a tight supply of cocoa has transformed the world's current oversupply market. Over the past 12 months, the glut has led to a 32% drop in cocoa prices, which has helped to reduce the retail cost of chocolate. But it won't last long, at least the hedge fund signals are. Fund managers have been reducing bearish cocoa bets for three consecutive weeks, according to US government data.

According to informed sources, the Ivory Coast in May 27th has a lot of pre-sale cocoa 2017-18, reached 950 thousand tons, which is the larger national two annual harvest. Chicago Price Futures Group President Jack Scoville said: "this is a considerable pre sale, which may be the reason for soaring cocoa futures." We are chocolate cooling tunnel company,we could supply cooling tunnels for chocolate enrobing and cooling tunnels for enrobing, please contact us.

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