West African Nations Thrive Or Dive With The Price Of Cocoa – iPath Dow Jones-UBS Cocoa Total Return Sub-Index ETN …

The price of cocoa dropped from highs of $3422 in December 2015 to lows of $1769 per ton in June 2017. Increased production at historically high prices caused the market to move into a condition of oversupply.

The vast majority of cocoa output comes from two West African nations; the Ivory Coast and Ghana. Together, the two countries produce over 60 percent of the world’s annual requirements of the beans. Cocoa grows in equatorial climates, and it is the primary ingredient in chocolate confectionery products enjoyed all over the world.

In the world of oil, the Middle East is home to more than half the world’s reserves, and the price of the energy commodity is often a function of political conditions in the world’s most turbulent region. Recently, the price of oil moved above the $70 per barrel…

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