Stock exchange news. The market situation looks in the following way: considerable amount of the product is accumulated in Ghana and Cote d’Ivoire ports, which can have downward pressure on the market.
At the same time, it is currently not the period of crop gathering, and this can have a deterrent effect on piece reduction. Moreover, there are predictions that this year non-favourable weather conditions as well as the diseases that have affected Cameroon plantations can have a negative impact on next season crop.
Hurricane is currently expected in Western Africa, which can in a short-time period stipulate price rise, which we are currently observing. Taking into consideration the general fundamental background, the market is most likely to continue sideways trend in the range of 3150-2850, as explained by traders of Department of Derivatives Trading
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