About this episode

Commodity analysts discuss the unusual simultaneous rallies in sugar, cocoa, and robusta coffee due to El Niño-related weather challenges.

Since the start of the year we have seen simultaneous rallies in sugar (+15%), cocoa (+28%), and robusta coffee (+47%). This is rather unusual given these three commodities have very different fundamentals and are produced in very different countries. The threat of El Niño-related weather challenges is the one common element that has led to speculators increasing their long bets across these three commodities. In this podcast, commodity analysts Paul Joules and Carlos Mera discuss the outlook going forward. Please read our disclaimer here: https://www.rabobank.com/knowledge/disclaimer/011417272/disclaimer

People in this episode

Guests: Paul Joules, Carlos Mera

Topics covered

• commodity markets
• agriculture
• weather impact
• speculation
• sugar
• cocoa
• coffee

Keywords

• sugar
• cocoa
• robusta coffee
• El Niño
• commodity analysis
• market trends
• speculation

Mentioned in this episode

Organizations: Rabobank RaboResearch Food & Agribusiness

Products: sugar, cocoa, robusta coffee

Places: El Niño

More episodes of RaboResearch Agri Commodities

• Is there a global food crisis coming? · April 29, 2026 · 23 min
• The cocoa crash explained · February 9, 2026 · 13 min
• Coffee prices: Short term and long term diverge · October 15, 2025 · 17 min
• The WASDE whispers: What markets did not hear on June 12 · June 16, 2025 · 16 min
• Espresso economics: The coffee rally explained · December 9, 2024 · 18 min
• The cocoa rally explained · March 1, 2024 · 15 min

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