Cocoa better than bitcoin
As we’ve wrapped up the holiday season, it’s not just chocolate that’s providing the sweetness – the cocoa bean has surpassed as the most profitable commodity in 2024, according to MarketWatch. In fact, cocoa fared better than bitcoin over the last year. Prices for chocolate’s main ingredient have more than doubled this year, reaching record highs and representing a 185% rise year-to-date (Fow Jones market data) that outpaced Bitcoin’s impressive ~128% growth and the US stock market. Why cocoa outperformed bitcoin last year?
Why cocoa wins
* Inelastic demand: Like coffee, chocolate is one of those things that consumers are reluctant to give up. Inelastic demand poster child * Global deficit: The 2023-24 market year ended with the largest global supply deficit in 60 years, driven by weather challenges in West Africa (ING). * Seasonal demand: Cocoa prices often rise ahead of the holidays when chocolate consumption increases, despite record high prices. While some expect a price correction after the big rally, fundamentals such as tight supply and robust demand suggest that prices could remain strong.
About the Vikingen
With Vikingen’s signals, you have a good chance of finding the winners and selling in time. There are many securities. With Vikingen’s autopilots or tables, you can sort out the most interesting ETFs, stocks, options, warrants, funds, and so on. Vikingen is one of Sweden’s oldest equity research programs.
Click here to see what Vikingen offers: Detailed comparison – Stock market program for those who want to get even richer (vikingen.se)
