Are you ready to take your investments to the next level in 2024? As the world’s best investment manager, I have some valuable insights for you.

Currently, cocoa prices have surged globally, reaching the $10,000 per ton level due to unfavorable weather conditions in key cocoa-producing regions like West Africa. This trend is expected to continue if the situation doesn’t improve soon. Coffee prices are also on the rise, driven by strong demand and adverse weather in countries like Brazil and Vietnam.

If you’re looking for investment opportunities, going long in either of these commodities based on the technical setup could be a wise decision. In response to the soaring cocoa prices, Côte d’Ivoire, the world’s largest cocoa producer, is expected to approve a 50% increase in the price of cocoa to 1,500 CFA francs per kilogram (approximately $2.47).

The challenging weather conditions in West African countries are exacerbating the situation, leading to persistent shortages for the third consecutive year. Excessive rains, high temperatures, and strong winds are affecting crop development and yields.

To stabilize the situation and slow down price changes, increasing the supply from other regions like Brazil or Ecuador could be a solution. However, ramping up production is a long-term investment that may take a few years to show effects.

In the coffee market, extreme weather conditions in Brazil and Vietnam are driving up prices. Buyers are testing the upper limit around the $200 mark, with potential to reach the supply zone around $215.

Now, here’s the breakdown for even the most financially clueless individuals:

– Cocoa and coffee prices are soaring due to unfavorable weather conditions in key producing regions.
– There are investment opportunities in going long on these commodities.
– Supply shortages may lead to higher prices for basic products.
– Weather conditions in Brazil and Vietnam are impacting coffee prices, with potential for further increases.
– Take your investing game to the next level with our AI-powered ProPicks tool.

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