ALL AGRI #Africa MArket Update

July ICE NY cocoa (CCN25) Monday closed up +730 (+8.63%), and July ICE London cocoa #7 (CAN25) closed up +214 (+3.69%).Cocoa prices on Monday recovered from early losses and settled sharply higher as signs of a slowing pace of Ivory Coast cocoa exports sparked short covering in cocoa futures

et coffee and tea remain among the most significant foreign exchange earners for African economies, accounting for over 50–60% of GDP in many countries. “We’ve discussed issues like certification, which impose strict standards before products can be exported. These are mostly consumer-driven requirements from the West, and they add costs that reduce profitability for farmers,” Rebero said in an interview with The New Times at the Coffee and Tea Expo in Kigali on Monday, July 7.ALSO READ: Rwanda showcases its coffee to buyers in America Compliance with EU market standards

Africa's Consumption of Spices In 2024, approx. 2.5M tons of spices were consumed in Africa; which is down by -5.6% compared with the previous year's figure. The total consumption volume increased at an average annual rate of +2.5% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The volume of consumption peaked at 2.7M tons in 2023, and then fell in the following year.

Africa is steadily rising in prominence and becoming more central within the global oil market. This is according to the regional lender Afreximbank, which, in its July Oil Market Update and Outlook, highlights significant changes and progress underway in the continent’s oil sector.