Business & FinanceCommodities15 July 2024, 2:09 pm 1 minute

Reuters exclusively reported that trading houses face losses of at least $1 billion on cocoa derivatives after major producer Ghana failed to deliver beans this year, forcing traders to liquidate short positions in a rallying market. 

Market ImpactGlobal cocoa prices soared this year after bad weather, bean disease, smuggling and illegal gold mining reduced production and the volume of beans available in Ghana, the world’s No.2 producer.
Article TagsTopics of Interest: Business & FinanceCommoditiesType: Reuters BestSectors: Business & FinanceCommodities & EnergyRegions: AfricaCountries: GhanaWin Types: ExclusivityStory Types: Exclusive / ScoopMedia Types: TextCustomer Impact: Significant National Story