Business & FinanceCommodities
15 July 2024, 2:09 pm 1 minute
Reuters exclusively reported that trading houses face losses of at least $1 billion on cocoa derivatives after major producer Ghana failed to deliver beans this year, forcing traders to liquidate short positions in a rallying market.
Market Impact
Global cocoa prices soared this year after bad weather, bean disease, smuggling and illegal gold mining reduced production and the volume of beans available in Ghana, the world’s No.2 producer.
Article Tags
Topics of Interest: Business & FinanceCommodities
Type: Reuters Best
Sectors: Business & FinanceCommodities & Energy
Regions: Africa
Countries: Ghana
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story