Coffee Cocoa Futures today - Cocoa Prices Prediction October 2015 : Commodity prices Cocoa or Chocolate today soared due to weather
concerns and political conditions the major cocoa producing countries
that drive the movement of world cocoa prices continue to soar, ivory
coast of West Africa accounts for nearly 70 percent of world cocoa
supply.
As we know where in October the main cocoa producer Ivory Coast will be held presidential elections that could encourage cocoa price volatility is very high, such as
cocoa price movements after the elections in 2010 and early 2015, the price of cocoa reached its highest level for 32 years. which at the time of Ivory Coast's Cocoa Exports were suspended.
While in 2015 in the world cocoa demand is expected to rise higher by 1.7 percent. according to estimates from a global supply of cocoa Rabbo Bank will be in deficit during the 2015-2016 season, Rabbo Bank also lowered Ghana cocoa production forecast of 7.8 percent and for the Ivory Coast by 20 percent in 2015-2016.
Meanwhile, according to Euromonitor estimates that chocolate consumption per capita in the Asia Pacific region will increase by 28% by 2020.
While According to ICO (International Cocoa Organization) global cocoa production in the 2015-2016 harvest year will fall by 4.9 percent from the previous year's harvest season. El Niño weather that hit some major cocoa producing countries could reduce cocoa production average of 2.4%.
on the trading day Friday, September 4, 2015, Cocoa price broke through the resistance level of around $ 3,142- $ 3.148. and and closed at the price of $ 3,168 per ton, after reaching its highest level for a month diharga $ 3,192. while in London Liffe exchange price of cocoa for December delivery closed up 41 pounds, or 1.9 percent, at the price level of £ 2,156 per tonne.
Weather Conditions El Nino in the Atlantic, causing the weather is very dry in the Ivory Coast and Ghana as well as the asian region including Indonesia over the past few weeks, rains are expected to continue to be below normal in the main area next month, the impact of supply shortages may raise the price of cocoa by 7.7 per cent over the next three months.
Fundamental and technical basis cocoa price movement is likely to continue to rise, the price of cocoa looks will reach the price level of price resistance at $ 3.229 and $ 3.370 highest price in July 2015. And Price Sopport $ 3.095 and $ 2.700 lowest prices in april 2015
We hope Organizing elections in Ivory Coast can run with Peace, Elnino weather which caused a drought to an end that can increase crop yields so that the cocoa farmers could increase the global supply of cocoa. As well as the price of cocoa at the farm level is getting bette
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