Cocoa futures hit record highs, driven by extreme weather and crop damage in West Africa. New EU law aimed at combating deforestation could decimate coffee and cocoa stocks in European warehouses.
Some markets suffering from a shortage of tea stocks due to supply disruptions as a result of Houthi attacks on ships in the Red Sea. The Suez Canal may be able to resume its normal operations in due course, but it will remain a tempting target for attackers, according to the British newspaper “Financial Times”