Expert rating
Our expert rating is the average of the areas listed here, each scored out of 5 by our team.Our experts have rated Cocoa Price Analysis & Forecasts across one key area of our review framework.
- Outlook5.0
Pros
- Big bull market in cocoa
- Deficit still expected
- Momentum favours long positions
Cons
- Overbought technicals; crowded trade
- Production deficit may ease in 2024
- High consumer prices to dent demand
See full expert review
Our verdict
Cocoa beans are the main material to make the ever-popular chocolate. Cocoa is a valued commodity. Tons of chocolate - derived from cocoa - are consumed daily. The biggest producer nation is Ivory Coast (40%). So what happens there impacts global prices.
Summary
Can the Cocoa rally last? Against Cocoa's uber-bullish sentiment, the risk here is obviously skewed to the upside. A leap into the five-digit territory (10,000) is possible. That said, a correction can not be ruled out either, simply because the market is pricing in a supply disaster. 20/3/24
Is Cocoa a Buy, Sell or Hold?
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