2016 Tough For Commodities📉

  |   Ghana News

Cocoa activity in Ghana suffered drastic decline📉 during the last 5⃣ months and this affected the foreign exchange element💰 in the economy. Harvest have been gaining acceleration📈 in recent weeks however, it comes at a time where demand for cocoa is contracting⬇. Global🌍 chocolate consumption experienced a 3.7% decline⬇ from September to November last cocoa season according to Barry Callebaut AG, the world’s largest cocoa processor. Data📋 gathered according to purchasing trends indicate that, Ghana will experience a normal harvest👍🏻 of 800,000-850,000 metric tonnes. Cocoa purchases💰 have been higher⬆ than last season’s 475,000 tonnes, but still below the 2013/14 bumper of 624,000 tonnes😔. Commodities are suffering😁 a decline due to concerns about global🌍 growth and weakness in commodities prices💰. Data recorded📋 since the beginning of the year reiterates the view that 2016 will be another tough😁 year for commodity markets especially cocoa and coffee.

Image credit: Irene Scott/AusAID, CC BY 2.0, https://goo.gl/MM6NGW

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