Cocoa Kakao bottomed and bounced. Target 2x 114% $18,650
Using the logarithmic chart, price reached the bottom of a long-term channel at $8,650 on 24 February 2025, and has subsequently bounced higher. The yellow channel is rising even steeper within the rising blue channel, and coincidentally both yellow and blue channels converge above $18,650 on 23 June 2025. This is a convservative estimate. The fundamentals back this this bullish thesis supply constraints persist and demand constraints will be short-lived.
'Cocoa production for the 2024/25 season is expected to reach well below 2022/23 due to continued adverse weather and poor crop conditions.
Latest data showed Ivory Coast farmers have shipped 1.36 million metric tons of cocoa to ports so far this marketing year (October 1 to February 23), a 17% increase from last year, though the pace has slowed from the 35% rise seen in December.
Meanwhile, Ivory Coast has seized around 2,000 metric tons of falsely declared cocoa beans worth around $19 million at its main port in Abidjan.' source: Tradingeconomics:
'Cocoa production for the 2024/25 season is expected to reach well below 2022/23 due to continued adverse weather and poor crop conditions.
Latest data showed Ivory Coast farmers have shipped 1.36 million metric tons of cocoa to ports so far this marketing year (October 1 to February 23), a 17% increase from last year, though the pace has slowed from the 35% rise seen in December.
Meanwhile, Ivory Coast has seized around 2,000 metric tons of falsely declared cocoa beans worth around $19 million at its main port in Abidjan.' source: Tradingeconomics:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.