Cocoa prices may stabilize around $9,000-$10,000/ton; caution ahead

cnbc.com

Citi predicts cocoa prices may stabilize between $9,000 to $10,000 per metric ton in the next few weeks. ICE cocoa futures traded at $9,370 per metric ton, having surged over 120% this year. Analysts warn of financial risks in the second half of the year and suggest a possible turning point in the cocoa bull cycle in May to June. Citi remains "mildly bearish" on cocoa prices for 2024 and 2025.


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