Should You Invest In Cocoa Future?

Cocoa is one of the most used commodities in the world. It is the backbone of the global chocolate industry and is also used for a variety of other products in the food and drink, cosmetics and pharmaceutical industries. The global chocolate market is expected to exceed $67 billion by 2025. Once considered an exotic and rare bean, cocoa is now present in every corner of the globe, with chocolate products being sold virtually everywhere. Some of the world’s most recognisable food corporations, such as Nestle, Mars and Hershey's have built their business empires around chocolate and everyone’s favorite candy remains a force in the global economy to this day. Africa is a major source of cocoa, with the Ivory Coast being the world’s largest producer, followed by Ghana, and Nigeria and Cameroon also among the world’s top five producers. The only non-African country in the top five is Indonesia. The cocoa chart could be influenced by a variety of factors, including supply and demand, global trends in food and nutrition, weather conditions, political disputes and more. Therefore, those who wish to track cocoa prices should also consider following relevant news and other fundamental sources. To stay updated on cocoa price movements on eToro, add it to your watchlist.