{"id":4196,"date":"2024-08-30T02:02:03","date_gmt":"2024-08-30T02:02:03","guid":{"rendered":"https:\/\/sbmediaonline.com\/?p=4196"},"modified":"2024-08-30T02:02:03","modified_gmt":"2024-08-30T02:02:03","slug":"cocoa-prices-fall-further-as-west-africas-rain-forecast-looks-promising-ahead-of-harvest-season","status":"publish","type":"post","link":"https:\/\/sbmediaonline.com\/?p=4196","title":{"rendered":"Cocoa prices fall further as West Africa&#8217;s rain forecast looks promising ahead of harvest season"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"175\" src=\"https:\/\/uwordpressmedia.blob.core.windows.net\/uwordpressmedia01\/2024\/08\/31954050.295.jpg\" alt=\"\" class=\"wp-image-4197\"\/><\/figure>\n\n\n\n<p>Cocoa futures fell for a third day on forecasts of rain in West Africa, pulling back from a weeklong rally fueled by concerns over dry weather in key producers Ivory Coast and Ghana.<br><br>Western Ivory Coast saw moderate to heavy showers on Wednesday, with some light, isolated showers elsewhere, according to a Maxar weather forecast. \u201cIvory Coast growers expect harvest to begin next month, and the amount of rain the crop receives will determine the amount and duration of the harvest,\u201d said Mark Bowman, senior global market analyst at ADM Investor Services.<br><br>\u201cProducers would like to see more rainfall in the south, but that may take another week, which could leave southern regions stressed,\u201d he cautioned.<br><br>The most active contract fell as much as 2.4% in New York and is headed for a 2.7% weekly decline.<br><br>Still, cocoa futures are up over 80% this year, primarily driven by fears around dry weather, disease and a lack of fertilizers curbing output in the main growing region. Ghana\u2019s industry regulator recently cut the country\u2019s crop harvest target for 2024-25 by 20% on weather concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cocoa futures fell for a third day on forecasts of rain in West Africa, pulling back from a weeklong rally fueled by concerns over dry [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":4197,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4196","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4196","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4196"}],"version-history":[{"count":1,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4196\/revisions"}],"predecessor-version":[{"id":4198,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4196\/revisions\/4198"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/media\/4197"}],"wp:attachment":[{"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}