Forex news on cocoa commodity

Here are some recent news articles and updates on the cocoa commodity market:

Market Updates

• Cocoa prices rise on tight supplies: Cocoa prices have risen to their highest level in over two years due to tight supplies and strong demand. The London-based ICE Futures Europe exchange reported that cocoa futures rose to $2,444 per ton, the highest level since September 2018. (Source: Reuters)
• Cocoa output to decline in 2022/23: The International Cocoa Organization (ICCO) has forecast a decline in global cocoa output in the 2022/23 crop year due to weather-related issues and disease outbreaks. The ICCO expects global production to fall to 4.2 million metric tons, down from 4.4 million metric tons in the previous year. (Source: ICCO)
• Cocoa prices volatile due to weather concerns: Cocoa prices have been volatile in recent weeks due to concerns over weather conditions in top producer countries such as Côte d'Ivoire and Ghana. Heavy rainfall and flooding in these countries have disrupted harvesting and processing, leading to concerns over supply. (Source: Bloomberg)

Company News

• Cargill to invest in cocoa processing in Ghana: Cargill, a leading agricultural commodities company, has announced plans to invest in a new cocoa processing facility in Ghana. The facility will have a processing capacity of 120,000 metric tons per year and is expected to create hundreds of jobs. (Source: Cargill)
• Mondelez International to source cocoa sustainably: Mondelez International, a leading snack food company, has announced plans to source 100% of its cocoa sustainably by 2025. The company has committed to working with cocoa farmers and cooperatives to improve living conditions and reduce deforestation. (Source: Mondelez International)
• Ghanaian cocoa farmers to benefit from new certification program: The Ghanaian government has launched a new certification program for cocoa farmers, aimed at improving the quality and sustainability of cocoa production. The program will provide training and support to farmers and will help to promote Ghanaian cocoa on the global market. (Source: Ghanaian Government)

Regulatory News

• EU proposes new cocoa sustainability standards: The European Union has proposed new sustainability standards for the cocoa industry, aimed at reducing deforestation and improving living conditions for cocoa farmers. The standards will require companies to source cocoa from certified sustainable sources and to report on their sustainability performance. (Source: EU)
• US FDA proposes new labeling rules for cocoa products: The US Food and Drug Administration (FDA) has proposed new labeling rules for cocoa products, aimed at providing consumers with more information about the ingredients and nutritional content of these products. The proposed rules would require companies to list the amount of cocoa solids in their products and to provide information about added sugars and other ingredients. (Source: FDA)

I hope this information is helpful!