Côte d'Ivoire Pre-sells Next Season's Cocoa Crop at Market Discount Price
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The country has already sold about 350,000 tons of cocoa for the production season from September to February of the following year, at a price of £2,200-2,300 per ton. These contract terms indicate that traders expect international prices to fall further. In the current mid-crop harvest, which will end in August, Côte d'Ivoire has pre-sold 300,000 tons (with the total expected output being 500,000-600,000 tons). (Bloomberg)
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