{"id":155053,"date":"2019-09-09T10:45:17","date_gmt":"2019-09-09T14:45:17","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=155053"},"modified":"2019-09-09T08:01:00","modified_gmt":"2019-09-09T12:01:00","slug":"cocoa-analysis-cocoa-tree-disease-in-west-africa","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/09\/cocoa-analysis-cocoa-tree-disease-in-west-africa\/","title":{"rendered":"COCOA Analysis: Cocoa Tree Disease in West Africa"},"content":{"rendered":"
September 9, 2019<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

Cocoa Tree Disease in West Africa<\/strong><\/p>\n

Cocoa Research Institute of Ghana lowered its forecast for cocoa harvest in Ghana by 11% due to the viral disease of the trees Cacao swollen-shoot virus (CSSV). Will the cocoa quotations<\/a> grow?<\/p><\/blockquote>\n

The number of infected trees in Ghana is estimated at 16%. This country produces 24% of the world’s cocoa and another 35% falls on its neighboring C\u00f4te d’Ivoire. In total, three quarters of the world’s cocoa is grown in Africa. An additional negative for the crop can be very rainy weather in West Africa. Meanwhile, the European Cocoa Association announced an increase in demand for beans in Europe and an increase in the volume of their processing in the 1st quarter of this year by 3.3% to 370.3 thousand tons compared to the same quarter last year.<\/p>\n

\"Cocoa\"<\/p>\n

On the daily timeframe Cocoa: D1<\/b> could not break the lower bound of a long-term uptrend. Now it is adjusted up. Various technical analysis indicators have generated signals to increase. Further growth of quotations is possible in case of bad weather and a reduction in world crop .<\/p>\n