Côte d'Ivoire Pre-sells Next Season's Cocoa Crop at Market Discount Price

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)