Investment Times

Ivory Coast contracts for the 2023/24 main cocoa crop between exporters and the Coffee and Cocoa Council (CCC) that could not be completed due to a bean shortage will be postponed to prevent exporters from defaulting, a CCC note seen by Reuters showed. As traders scramble for beans after disease and adverse weather hurt supply, industry experts are predicting a large global cocoa deficit for the current season and have growing concerns for the next. In February, the regulator's Managing Director Yves Brahima Kone said the CCC will not default on its contracts to supply exporters despite a drop in...