Big African Cocoa Harvest Starts With Political, Demand Woes
- Ivory Coast political unrest may spur supply disruptions
- Weak demand due to pandemic may further widen surplus
This article is for subscribers only.
As Ivory Coast prepares to collect a record cocoa crop, the market is bracing for two key unknowns: the risk of political unrest disrupting supplies and the demand hit from Covid-19.
Bigger crops in West Africa would add to a global surplus at a time when consumption is under pressure from the pandemic. As the new season gets under way, focus is increasingly turning to Ivory Coast’s Oct. 31 presidential election, with sporadic protests breaking out since Alassane Ouattara said he’ll seek a controversial third term.