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Investors may be falling out of love with cotton Cotton producers and exporters in West Africa could be vulnerable to a correction in cotton prices after speculators sharply reduced their long positions on the New York Intercontinental exchange (ICE) for the week ending October 11. According to data from the US CFTC, cotton investors trimmed
The largest cocoa farm in Africa KKO International SA, a Brussels based holding company specialising in the physical cocoa sector, is looking to develop a cocoa farm in Cote d’Ivoire which would span 3,000 hectares, making it the largest of its kind in Africa. Through its subsidiary Solea, it intends to “shake things up” on
Demand for protein a key pillar for Cargill Agribusiness giant Cargill, part of the quartet of companies that dominate global agricultural markets, today reported financial results for the fiscal 2017 first quarter that ended on August 31, 2016. Although revenues were moderately lower compared with last year at USD 27.1 billion, operating profit rose sharply by
FrancTrade view: The IPO of Sucrivoire could not have come at a better time in sugar markets with raw sugar price rising this week to their highest level since March 2012. Sugar prices have rocketed higher on concerns over production deficits in top producers Brazil and India. Paris based Sucden and Denrees, one of the
Sama resources, the Canadian-based mineral exploration and development business, hopes to develop and operate the first nickel-copper-palladium district in West Africa which has the potential to become “a new world class base metal district”. The project, which is hosted in the large Yacouba layered complex, will cover 1,487 square kilometres of exploratory ground in Cote d’Ivoire and
President Ouattara declares Cote d’Ivoire open for business Cote d‘Ivoire is open for business to all investors according to its President Alassane Ouattara. Speaking at the US- Africa Business Forum in New York this week President Ouattara said it did not matter if investors were from China, the Middle East or the US but the focus
Still a roller coaster market The cocoa market has been awash with activity. Last week, we reported a steep decline in prices in anticipation of better supply out of top producer Cote d’Ivoire. News that Cote d’Ivoire would cancel up to 250,000 tonnes of forward-sold 2016/17 cocoa further spooked the market which tumbled heavily as a result. That news
Sales contract within 6 days The Cocoa and Coffee Advisory Board of Côte d’Ivoire has tightened the regulatory procedure for purchasing cocoa in order to stifle speculation in the market. According to a recent communique, local buyers need to present a sales contract 6 days after a successful bid on the daily cocoa market auction.
FrancTrade view: Investors, financial market participants and other stakeholders exposed to the cocoa sector are advised to revisit their portfolios after today’s sizeable decline in cocoa prices on the New York exchange. Prices fall 4% on Friday Cocoa futures quoted on the New York exchange have fallen to their lowest level in 7 months. The December
FrancTrade view: The collapse of a key railway bridge linking Côte d’Ivoire to the landlocked countries of Burkina Faso (and Niger) will deal a blow to intraregional trade in the UEMOA zone and may lead to a temporary spike in inflation.The accident will also create a financial and operational hurdle for operator SITARAIL which is part
