Exclusives | Africa

Traders face $1 bln loss on faltering Ghana cocoa supply 

15 July 2024, 12:00 am
1 min read
FILE PHOTO: Cocoa beans are pictured next to a warehouse at the village of Atroni, near Sunyani, Ghana April 11, 2019. REUTERS/Ange Aboa//File Photo

Reuters exclusively reported that trading houses face losses of at least $1 billion on cocoa derivatives after major producer Ghana failed to deliver beans this year, forcing traders to liquidate short positions in a rallying market.