Demand for cocoa is steadily climbing, driven primarily by the growing world population, rapid development of emerging markets and rising incomes. Although distributed and used in products available all over the world, around 70 percent of the global cocoa supply currently originates from three producing countries in the equatorial belt – Ivory Coast, Ghana and Indonesia.
Supply and Demand Imbalance on the HorizonAccording to Credit Suisse data, global demand on average has been growing by about 2.5 percent per year over the past ten years.
Cocoa and chocolate producer Barry Callebaut believe this ongoing upward trend will threaten to outpace supply by as much as one million metric tons by 2020. “With current demand levels, cocoa stocks are still ample. However, we note a falling trend in the ratio of cocoa inventory to grinding, which indicates effective tightening of the supply picture,” says Credit Suisse’s Joe Prendergast.
Large Shopping Malls in Bangkok Will Be Closed until July 25th
Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.
Downside risks loom for Thai economy due to Prolonged COVID-19 Outbreak
The most important issue for the Thai economy at present would be the procurement and distribution of appropriate vaccines adequately and timely.
The Bank of Thailand (BoT) has revealed that Thailand’s economy faces significant downside risks, because a prolonged COVID-19 outbreak could cause the economy to underperform the baseline projection, squeezing business liquidity and slowing employment.(more…)
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