The West African cocoa harvest reached its peak at the end of 2021 with arrivals lagging the previous season. The pace has recovered in part but is still behind last year’s pace. With weather improving, is there sufficient time for arrivals to recover in the second half of the main crop? And how are things shaping up for the upcoming midcrop?
Production, however, is only half of the equation. Global grinds recovered to pre-pandemic levels through 2021, but can we expect continued robust growth in 2022? We will dissect Q1 crop year's results to see if it was a merry holiday season—despite spreading Omicron cases. Aggregating production and demand figures, we will present our first forecast of surplus/deficit and take a look at how spec funds are reacting.
Please join us for a revealing discussion of the world cocoa market.