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<ul><li>As per the International Cocoa Organization, there was a deficit of 216kt in the global market during 2021/22 and 99kt in 2022/23.</li><li>With a significant decline in West African output in the ongoing 2023/24 season, it is anticipated that the market will experience a substantial third deficit, nearing 400kt.</li><li>This would result in stocks reaching their lowest levels in at least a decade.</li></ul>

As per the International Cocoa Organization, there was a deficit of 216kt in the global market during 2021/22 and 99kt in 2022/23.With a significant decline in West African output in the ongoing 2023/24 season, it is anticipated that the market will experience a substantial third deficit, nearing 400kt.This would result in stocks reaching their lowest levels in at least a decade.

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SUGAR #11 (WORLD) Mar24 (SBA COMDTY)

Surging Soft Commodities

With a significant decline in West African output in the ongoing 2023/24 season, it is anticipated that the market will experience a substantial...

The Commodity Report

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