12:23 - 3.10.2025

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October 3, Fineko/abc.az. The price of cocoa bean futures fell below $6,600 for the first time since the end of October 2024, according to trading data on the New York stock Exchange.

ABC.AZ reports that according to Bloomberg, market participants are assessing the risks of oversupply. On October 1, the Ivorian agricultural season began. It portends a strong harvest, which should promote the export of cocoa beans.

The Ivorian government is expected to announce higher selling prices for its products to prevent farmers from stockpiling and limit incentives to smuggle into other African markets where prices are higher.

In addition, in Ghana, the world's second-largest cocoa producer, shipments to warehouses more than quadrupled last month compared to last year due to an accelerated start to the season.