The outlook for the last half of the 2024/25 cocoa market is dominated by generally favorable weather and upward revisions to production estimates. Demand remains a major focal point as well with the U.S. tariffs and recession risk likely to upend consumption in the world’s second biggest chocolate market. Overall, WPI sees more bearish prospects for cocoa prices over the next few months and into 2025/26 as global supplies look to recover from their disastrous 2023/24 levels. Short-Run Dynamics Over the past three months, ICE cocoa futures have traded a relatively tight range (compared to recent history) of $7,600-$9,460/MT with buyers willing to chase rallies and end-users becoming active on breaks. Tight global stocks are help...
Key Takeaways: Dry bulk markets remain mixed with Capesize rates turning around from their recent weakness and posting solid gains on improved Chinese demand. Panamax vessels, on the other hand, saw rates decline amid greater tonnage availability in the South Atlantic and falling U.S. Gu...
From WPI Consulting
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.