Loading...
Market
Story
Cocoa Prices Surge 20% in Two Days, Largest Rally Since 1999
May 8, 2024, 10:55 AM
Cocoa prices have experienced unprecedented volatility, with significant price swings occurring within short periods. Recently, cocoa futures in New York saw a major increase, gaining almost 20% in just two days and soaring 13.47%, marking the largest rally since 1999. This surge followed a steep drop last week when prices plunged more than 15% in a single day, the biggest decline in 65 years. The market's extreme fluctuations have been attributed to low liquidity and significant supply shortages, with cocoa prices jumping more than $1000. Additionally, robusta coffee prices have reached a 45-year high due to adverse weather conditions in Vietnam, a major producer, and increasing demand from China.
View original story
Similar markets
Central bank purchases • 33%
Retail investor demand • 33%
Industrial demand • 34%
OPEC production cuts • 25%
Global economic conditions • 25%
Geopolitical tensions • 25%
Renewable energy adoption rates • 25%
Chinese demand • 25%
Global economic instability • 25%
Inflation concerns • 25%
Geopolitical tensions • 25%
Geopolitical tensions • 33%
Economic downturn • 33%
Increased industrial demand • 34%
Increase in prices due to scarcity • 33%
No significant change in prices • 33%
Decrease in prices due to market stabilization • 34%
Increase in global demand • 25%
Changes in U.S. export levels • 25%
Shifts in refinery output • 25%
Geopolitical tensions • 25%
Aircraft parts shortage • 33%
Fuel supply issues • 33%
Labor shortages • 34%
No significant impact • 33%
Moderate impact • 33%
Severe impact • 33%
Increase • 33%
Decrease • 33%
No Change • 33%
Middle East • 25%
Asia • 25%
North America • 25%
Europe • 25%
No significant change • 33%
Moderate increase • 33%
Significant increase • 34%