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Cocoa opened Thursday (23) still with devaluation on the futures market. At around 9:13 am (Brasília time), the reference contract was traded for US$ 2114, registering a drop of 0.42%.
The sector continues to monitor exports from Côte d'Ivoire, which due to the scarcity of the product may not be able to continue with some contracts already signed.
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“An Ivory Coast CCC official said domestic exports would still be able to honor their contracts, but recent weekly port landing totals were well below last year's total,” Barchart's latest international analysis highlighted.
According to information from the Reuters agency, the cocoa and coffee council, responsible for regulating cocoa in Côte d'Ivoire, responded to concerns about the likely lack of supplies of beans from the current harvest for export, leading to risks of contract default.
According to a report from the entity's representative Neil Barston, he believes there are sufficient stocks to meet demands. According to its assessment of the situation, it claimed that although there had been a notable slowdown in cocoa volumes arriving at the country's main port, resulting in difficulties for some local exporters, in total there were enough beans available to cover current levels of orders.
Source: Virgínia Alves | Notícias Agrícolas
