Cocoa futures reaching an all-time high of US$10,051 on April 2nd

Cocoa futures took a dip, sliding under the US$9,800 per tonne mark, following a record-breaking rally to US$10,051. Despite this pullback, the market remains on edge due to dwindling global supplies. Subpar harvests in Ivory Coast and Ghana, the top producers, are exacerbating supply concerns, with a significant deficit projected for the 2023/24 season.