Cocoa is finishing 2024 as the top-performing major commodity, its massive annual gain driven by supply fears and market volatility.<\/p>\n On track for a 175% gain over the past twelve months, cocoa\u2019s tear has been driven by a series of poor harvests in Ivory Coast and Ghana, where the majority of the crop is grown. Dwindling global stockpiles are putting pressure on both buyers and chocolate makers. <\/p>\n Record prices have thinned out liquidity to the lowest in over a decade, as margin calls climbed and positions became increasingly costly to hold. That low futures liquidity added to the wild swings, with prices moving more than a thousand dollars on some of the most volatile days trading days.<\/p>\n On Tuesday, futures in New York fluctuated following the largest daily gain since May a day earlier. The London market also moved between small gains and losses.<\/p>\n Weather conditions are expected to remain challenging for West Africa\u2019s ongoing cocoa season. <\/p>\n \u201cHarmattan wind speeds should be near average, but the low humidity, abundant sunshine and wind will stress some trees,\u201d analysts at ADM Investor Services wrote in a note on Monday.<\/p>\n Prices of the premium arabica coffee have also gained around 65% in New York this year, breaking past the highest levels in more than forty years on fears that a drought in top supplier Brazil will hurt output next season. <\/p>\n Still, a drop in soybean prices traded in Chicago saw it take the spot as the worst performing major commodity in 2024. Ample production in the US and Brazil, combined with a slowdown in Chinese demand, drove prices down around 23% this year. <\/p>\n Watch the latest edition of BizTech below:<\/b><\/p>\n![\"Cocoa](\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/265\/26564894.295.jpg\" "\\"Cocoa")
Cocoa is finishing 2024 as the top-performing major commodity<\/span><\/span><\/p>\n<\/div>\n![](\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/705\/70527018.jpg\")
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