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Haha i also target to add more at 2.50
Cocoa price still double than last year... they have 6 - 8 months inventory... basically selling today price with cost of last year...
In the agriculture sector, prices were mixed with rubber, coffee and wheat outperforming, while cocoa prices weakened further but were still more than three times higher than pre-pandemic levels.
Interestingly, it is not only coffee prices that have been seeing a rally of late. Cocoa prices have also hit fresh records this year, with prices more than tripling over the last year on supply concerns.
Major candy and chocolate makers like Hershey and Cadbury have reportedly been shielded from this as they had locked in prices earlier. However, they are expected to bear the brunt of higher cocoa prices next year.
In Malaysia, cocoa manufacturer Guan Chong Bhd is one of the companies whose p
HOHOE DISTRICT, Ghana (Reuters) - Low prices and payment delays are pushing Ghana's cocoa farmers to sell to increasingly sophisticated smuggling rings, siphoning off production from border areas and raising doubt over next season's output, growers and officials told Reuters.
Failure to end the financing logjam and close the gap between Ghana's official price and the amount paid by traffickers, they said, risks deepening an already dire situation in the world's num
KUALA LUMPUR (Aug 15): Guan Chong Bhd’s (KL:GCB) earnings for the second quarter ended June 30, 2024 (2QFY2024) are anticipated to be resilient and facilitate a record-breaking year, driven by increasing average selling prices (ASPs), higher revenue, and favourable hedging positions, said RHB Research.
"We remain sanguine on Guan Chong’s outlook and earnings potential during this supercycle, bolstered by historic high ratios amid sustained cocoa demand, coupled with limited grinding and beans
beware,
Us Cocoa 6,853
London Cocoa 4,882, hit 6 month lower, the cocoa price chart same pattern with GCB chart. meaning share price is leading forward.
Cocoa futures dropped to around $9,300 per tonne, moving away from an over two-month high of $9,977 hit on August 26. The improving outlook for crops in key producer Ivory Coast helped to keep a lid on prices. Farmers said that recent heavy rains in most of the country's main cocoa-growing regions have accelerated the development of the October-to-March main crop,
Liew, your statement may correct, but share price didn't lying, from higher 4.45 to current price 2.76 fall 38%. When 2.76 back to 4.45 need 61%. How strong the results only can push the price back to peak?