Prices for coffee beans have reached maximum at world exchanges in the course of last 10 months. This has been caused by the fact that the countries of West Africa will be unable to supply the product to the market. This week the price for cocoa has risen by 8 percent at London exchange. Cocoa futures have reached 1.715 euro per ton.
Traders fear that Cote d’Ivoire and Ghana, which export about 60 percent of the total stock of cocoa beans worldwide, have already supplied the major part of the product to the market.
The cost of the product is influenced not only by bad weather conditions, but also by uneasy political situation in Cote d’Ivoire.
The chart below reflects the current state of affairs in the market of cocoa: correction of cocoa future is supposed to start in the nearest future as soon as the 5-wave structure is over.
