Is Cocoa a Buy, Sell or Hold?
[mepr-show rules=”99153″ unauth=”message”]Cocoa Price
Provider: Cocoa
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
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
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Outlook
(5)
Overall
5Cocoa Analysis & Guides
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Cocoa surges on supply fears & has inflation stopped falling?
If you haven’t seen a good uptrend recently, let me show you one: Cocoa. Cocoa’s price has surged from under $3,000 to $8,000 because of supply fears. Cocoa’s price surge Cocoa is a valued ingredient used to make chocolate products. The powder is obtained from cacao trees (via beans). Due to its lovely nutritional content,