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JJS - Cocoa Moves To The Top End Of Its Trading Range
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Cocoa beans are the primary ingredient in the chocolate confectionery products that are enjoyed by people all over the world. An equatorial climate is ideal for the production of cocoa, so over 60% of the world's annual crop comes from the West African nations of the Ivory Coast and Ghana.
The price of cocoa reached a high at $2914 per ton in April 2018. Since last July, the price has traded in a range from around $2000 to $2400 per ton with three trips to the bottom and top end of the range.