Grace Gitau
Soft Commodities Reporter at Bloomberg News
Proudly Kenyan. Journalist @Bloomberg, Covering everything Coffee, Sugar, Cocoa & Cotton Ex-Reporter @NationAfrica Alumni @MundusJourn Views are my own!
Articles
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1 week ago |
bloomberg.com | Grace Gitau
Chocolate. Photographer: Justin Sullivan/Getty Images North America(Bloomberg) -- Cocoa hit its longest losing streak in nearly three years after the US trade court’s decision to block the vast majority of President Donald Trump’s global tariffs added to bearish momentum. The ruling deemed illegal the bulk of Trump’s levies, including the global flat tariff that had made it costly for chocolate companies in the US to import cocoa.
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2 weeks ago |
bloomberg.com | Grace Gitau |Ekow Dontoh |Baudelaire Mieu
Cocoa regulators in the world’s top growers Ivory Coast and Ghana are holding back bean sales for next season in the hope of higher prices, a risky bet that’s adding to liquidity woes in the futures market. Forward sales by the two West African nations, which together account for about half of global cocoa production, have lagged their usual pace as the regulators favor selling closer to the start of the season and more spot deals, according to people familiar with the matter.
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1 month ago |
bloomberg.com | Dayanne Sousa |Grace Gitau
Coffee futures swung between gains and losses Tuesday amid heightened volatility as traders mull improving supply prospects for a cheaper bean variety. Arabica coffee, the premium variety traded in New York, dropped as much as 1.1% before erasing losses and climbing 1.5%. The cheaper robusta bean followed a similar trading pattern.
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1 month ago |
bloomberg.com | Dayanne Sousa |Grace Gitau
The premium that arabica coffee commands over cheaper robusta is near the highest since late 2011 on increasing concerns over poor supplies of the more expensive variety preferred by specialty coffee chains. Arabica futures climbed as much as 2.2% before erasing gains and losing as much as 3.3%. Still, prices rose the last five straight sessions and are once again nearing a record hit earlier this year.
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1 month ago |
bloomberglinea.com | Baudelaire Mieu |Grace Gitau |Ekow Dontoh
Bloomberg — Un aumento dramático en el precio del cacao que irritó a los comerciantes de materias primas y a los fabricantes de dulces está mostrando signos de alivio, y el principal grupo industrial incluso está pronosticando un pequeño superávit global, después de años de escasez. Los amantes del chocolate de todo el mundo serían perdonados por respirar un suspiro de alivio tentativo.
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The threat of a coming squeeze in Europe’s coffee supplies is stoking volatility as traders worry that a new law to protect forests will curb imports https://t.co/euoTKHBEpE via @markets
RT @business: A new law tracing the origin of cocoa beans threatens to jolt the prices of chocolate, skin-care products and herbal medicine…
Ivory Coast stops a tax incentive for cocoa grinders as it tries to meet the terms of an IMF loan program, dealing a blow to foreign companies that make up the majority of domestic processing. https://t.co/dEstnvyrwp
