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The cocoa market is experiencing significant price increases due to a severe shortage in West Africa, particularly in Ghana and Ivory Coast. Robusta coffee prices have also reached all-time highs. Ivory Coast cocoa farmers have won a 50% price hike, while Ghana is considering raising cocoa farmgate prices by up to 50% to prevent farmers from selling to neighboring countries for higher prices. Commodity trading companies like Gunvor and Trafigura are making headlines for their financial performances and involvement in bribery scandals.
Famed Oil Trader Andurand Bet on Cocoa Just Before Price Surge Futures have soared to record levels on weather, supply woes The trade has become increasingly risky due to volatility https://t.co/ZKTOiYrlMY
COMMODITY TRADING: Trafigura admits its founder and former CEO Claude Dauphin approved bribe payments for oil deals in Brazil https://t.co/qplG8dzMuE @jfarchy
Shocked.... Commodity trading behemoth Trafigura admits its founder and former Chief Executive Officer Claude Dauphin approved bribe payments for oil deals in Brazil https://t.co/MMqviOJ0GY via @business
Trafigura Admits Its Founder Claude Dauphin Approved Bribes Dauphin knew payments would be used to bribe officials Former CEO implicated in Trafigura’s plea agreement with US #oott https://t.co/z8PqwjasYQ
Oil trader Pierre Andurand’s hedge fund bet on higher cocoa prices ahead of a massive surge last month https://t.co/S7arl5dPRk via @markets
Oil trader Pierre Andurand’s hedge fund bet on higher cocoa prices ahead of a massive surge last month https://t.co/IQ4PJiSKTY
*OIL TRADER ANDURAND BET ON COCOA JUST BEFORE PRICE SURGE
FAMED OIL TRADER ANDURAND BET ON COCOA JUST BEFORE PRICE SURGE
Commodity trading behemoth Trafigura admits its founder and former Chief Executive Officer Claude Dauphin approved bribe payments for oil deals in Brazil https://t.co/zMzsp6STe6
Commodity trading profits hit record $104bn last year https://t.co/usHj2E77Tb via @ft
Cocoa is up 250% the past year. Why? Because 73% of all cocoa comes from West Africa and historically bad weather patterns have hurt production. Thanks @EricSoda for pointing this out. https://t.co/da4caO3hsQ
Cocoa and coffee prices have soared to record highs — and Citi says there may still be room to run https://t.co/QEGMVInOg1
Cocoa Slumps as Farmer Pay Hikes Boost Supply Outlook - BBG https://t.co/U2h56ZzDrD
Cocoa falls for a third day as bullish momentum loses steam — and prospects of higher pay for farmers raise hopes of a supply boost in West Africa https://t.co/o6qVhnHHra
Commodity prices continue to rise: Global price of Robusta coffee hit an all-time high of $3847 per ton, up 40% from the start of the year then falling back to $3822, a price last seen in early 2008 when such data was first recorded. Arabica coffee reached $4851 per tonne, the…
#Coffee on the move with record Robusta prices, +10% in three days on Vietnam heatwave risks, giving Arabica a boost with #KC_f trading back above $2 for the first time since December https://t.co/BrPQP3jXNw
#Coffee on the move with record Robusta prices, +10% in three days on Vietnam heatwave risks giving Arabica a boost with #KC_f trading back above $2 for the first time since December https://t.co/8oILEgDDyC
Coffee hits another all-time high 🚨 First it was OJ, then Chocolate, and now Coffee - is there anything left for us? https://t.co/galGqP66X9
Ghana to raise cocoa farmgate price by up to 50%, Cocobod says https://t.co/lfm9j5fjhh https://t.co/YFJegNc9Qw
#Ghana to raise cocoa farmgate price by up to 50%, Cocobod says https://t.co/MtkepMg43Y
NEW: Cocoa prices reach 💵 $10K per ton 👀 https://t.co/QrRH6zZoaC
Robusta Coffee Hits Fresh Record as Dry Weather Risks Next Crop Threat of water shortage could limit production in Vietnam Prices of premium arabica bean rise with support from robusta https://t.co/scgFUSQIfB
Ghana is considering paying cocoa farmers up to twice as much for their beans in order to stop them from selling to neighboring countries for higher prices https://t.co/kFjVgRJYTl
🇺🇸 Will the soaring price of cocoa turn chocolate into a luxury item? https://t.co/gPjBXw6PWG
#Cocoa: A 50% farmgate price boost a step in the right direction https://t.co/qIg7ufnmzd
COMMODITY TRADING: Gunvor reports net profit in 2023 of nearly $1.3 billion -- that's the 2nd highest ever, but down ~47% from the 2022 record level. The high profit comes despite Gunvor taking a $467 million impairment after it pleaded guilty in the US to bribery | #OOTT
Plans for Ivory Coast 50% farmgate #cocoa price rise hailed as a "historic landmark" https://t.co/oae01Yc23M
#IvoryCoast Cocoa Farmers Win Price Hike After Futures Soar Payments rise by 50%, remain far below levels on global market https://t.co/1f6C6MukGt
MARKETS: Robusta coffee prices reach new all-time record high
COCOA PRICE PER METRIC TON* 🗓️Apr 2022 ~$2500 USD 🗓️Apr 2023 ~$3000 USD 🗓️Apr 2024 ~$10000 USD *due to severe cocoa shortage in West Africa, in particular Ghana & Ivory Coast, where more than half of the world’s cocoa beans are harvested https://t.co/1E1Dwd3US4 via @tEconomics https://t.co/mHgYKzqhC9