The Sweet and Sour Reality of Cocoa

Chocolate lovers and those in the chocolate industry have been facing a nightmare this year as cocoa prices have risen to an unprecedented high. The cocoa shortage followed by financial speculation has put the industry on a roller coaster, hitting companies reliant on inexpensive crops and labor hard.

Crop Failure

Low rainfall, plant disease, and ageing trees led to disappointing harvests in Ivory Coast and Ghana this year. As these countries produce about two-thirds of the world’s cocoa, their shortages have hit global markets hard. However, there is no quick fix for this global problem since cocoa trees take years to produce fruit.

Financial Speculation

The price of cocoa started creeping up last year after poor West African harvests. Financial speculators soon began betting that the prices would rise further causing them to soar beyond $11,000 per tonne in mid-April. The oversupply of high-risk futures contracts traded on global exchanges has resulted in disconnecting market prices from reality on farms.

“There’s fundamentals that trigger the move but then these financial

The Caterpillar company celebrated its 25th anniversary since it settled in the city of Torreón. The plant has expanded five times what it started, manufacturing and supplying more steel products to the United States.

The general director of Caterpillar Torreón, Gregorio Garza, pointed out that it began in 1999 with 200,000 square feet and currently occupies almost a million. There were nearly 150 workers and today there are over a thousand. In this sense, he indicated that the challenge is to continue with this development and maintain competitiveness to continue gaining in products and, in this way, continue growing.

Aarón Molina, operations manager, mentioned that the company belongs to the metal mechanics industry and produces machinery using steel. Their main manufacturing process is manual welding

The Minister of Mines, Olivier Herindrainy Rakotomalala, indicates that the draft decree implementing the mining code has been finalized. Almost a year after the adoption of the new mining code, this is perhaps the end of a project that has kept all stakeholders in the mining community in suspense. The member of the government had ind

In the past When the Yen depreciates, travel in Japan feels like a 10-20% reduction, although this is good news for tourists. But this is a serious depreciation of the Yen It is a result of monetary policy. It may also reflect Japan’s confidence problems.

Therefore, the Thai baht has in some periods depreciated to 37.17 baht per US dollar. What problem is reflected? And is Thailand following in Japan’s footsteps?

It is the ‘Yen-Baht’ difference that weakens wages

If you ask how strong is the depreciation of the baht at the moment? Compared to the beginning of this year, the baht depreciated by more than 6.5%, rising to 36.68 baht per US dollar (beginning of the year 34.42 baht per US dollar) and in some periods it still depreciated to 37.17 baht per US dollar. . As for the Yen, it is the first to depreciate. from the region as well

Let’s start with Amornthep Chawala, Executive Vice President Research Office Executive, CIMB Thai Bank (CIMBT) He told Forbes Thailand that in the past, before Covid-19, the value of the baht used to be closely linked to the value of the yen. which had safe haven status in the region At the time, the monetary policy of the United States was being relaxed. Low policy interest rate Thailand has a high current account balance. There is a lot of tourism income. It also has low inflation. This status was similar to the yen, causing the yen to strengthen at that time. The baht also strengthened.

But post-Covid-19, Thailand is no longer a Regional Safe Haven. because tourism income has decreased And the more intense the US inflation, The price of oil has increased because (1) Thailand is in a position of being a net oil importer; This makes the allure of the baht less attractive, including (2) the US policy interest rate is still rising sharply. This makes the difference in policy interest rates between the US and Thailand wider. This makes assets in the country unattractive. This results in capital moving back to the United States. Until showing the value of the yen and the weakened baht is at the top of the list in the region.
*The value of the yen dollar has weakened past 160 yen per US dollar in some periods.

At the same time, it can be seen that Thailand has similar characteristics to Japan in 3 aspects: 1) not raising interest rates suddenly 2) low attraction of a situation of slow economic growth 3) low inflation

inAmornthep Chawala, Executive Vice President Research Office Executive, Thai Bank CIMBin

The Yen faces pressure ‘more than’ the baht, but is also under pressure from the Fed.

side Rung Sanguanrua

Bari, Emiliano: “From an educated magistrate, dozens of trials against bosses”

“My profession as an anti-mafia magistrate led me to have knowledge of many details of the family and personal dynamics of the local clans. Knowledge which was the common heritage of the entire district anti-mafia directorate”. Thus began the president of the Puglia Region, Michele Emilianoin a hearing before the Anti-Mafia commission – after the controversy of recent weeks relating to the postponement of the hearing itself – regarding the investigation into alleged mafia infiltration in the Municipality of Bari: “As a deputy prosecutor – the governor recalled – I instructed dozens of trials of mafiosi and drug traffickers and hundreds of defendants sent to trial, many of whom were convicted”.

These were not easy moments for the Apulian governor. Even though media attention has been monopolized by the Toti case, sJust a few weeks ago the Region that the former magistrate has governed for nine years was shaken by two judicial investigations that hit Anita Maurodinoiaregional councilor for transport, e Alfonsino Pisicchio (his brother Enzo), president of the Apulian regional agency for technology and innovation, was also investigated. The latter, Emiliano’s trusted man, confessed to having received a message, by the governor of Puglia, prior to the arrest, which