The price of coffee is rising on the New York Stock Exchange

Cocoa

Cocoa continued its uptrend on the New York Stock Exchange, supported by limited supply. December futures rose 0.75%, reaching US $7,697 per tonne. Unknown in the history of cocoa.

In addition to an expected global deficit of 439,000 tons for the 2023/24 harvest, which ends next month, cocoa faces a significant reduction in certified stocks in New York. Yesterday, these stocks reached their lowest level in seven years, at just over 2.68 million.

The Mercado do Cacau site in Brazil notes that production prospects in West Africa for next season are still uncertain, which should keep prices at levels.

Brazil is developing cocoa plantations with the support of the Brazilian Government in the states of Espirito Santo and Bahia. The Bank of Brazil provides financing for Brazil to become a major cocoa producing country. You should know that Espirito Santo, a state the size of Belgium, is the third largest producer of pepper in the world. Brazil wants to be very involved in cocoa as it did in high quality cocoa in the Ilheus region of Bahia where the first two customers were the Emperor of Japan and the Queen of England. But it takes 10 years of production like the Ivory Coast.

Here, the country must overcome several challenges that could threaten production. These include climate risks, suboptimal temperatures, as well as structural issues affecting farmers, such as lack of funding, aging trees, new EU legislation on -forestation, and social issues such as child labour.

Just the orange

Orange juice prices have risen sharply on the stock market. November contracts rose 4.03% to US$4.6095 a pound on concerns about a smaller harvest in Brazil.

Orange price increased from August 2023 to August 2024 by 40%. Brazil is the largest orange producer in the world.

Cotton

The cotton market also saw gains, with December contracts closing at 70.35 cents per pound, up 1.46%.

Sugar

Sugar followed the upward trend of other agricultural products in New York. October contracts ended the session at 17.65 cents per pound, marking an increase of 0.46%.