The Sweet Side of Investing: The Falling Cost of Chocolate Ingredients and its Impact on Stocks
The cost of the crucial component for chocolate in New York plummeted to $8,405 per tonne on Tuesday, while cocoa also experienced a decline in price from around $11,800 per tonne in mid-April. Analysts attribute the drop in price to a decrease in outstanding contracts and recent rainfall in West Africa, where the majority of cocoa producers are situated. The precipitation is enhancing the likelihood of a bountiful harvest, which is a positive development following many cocoa plantations endured drought and illnesses recently. Nonetheless, analysts caution that the cocoa scarcity is not entirely eradicated, particularly in pivotal producing nations like Ivory Coast and Ghana.
On the other hand, lower cocoa prices have propelled shares of chocolate manufacturers like Barry Callebaut to increase by 6.6% on Tuesday.
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