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Summary: Soft prices and bargains from developers have more favouring this asset option
The Ivory Coast's figure would have been higher, but a weak cocoa harvest and soft prices on international markets dragged down output.
The market situation continues to be tough due to the ongoing political climate in the region, ample supply and soft prices. The current downward cycle that started in the second half of 2017 appears to have either approached the bottom or bottomed out - depending on which research report one trusts more.
As a result, the industry will still have to deal with somewhat soft prices in next year's renewals.
"We were able to reduce the overall costs of production, which also alleviated the impact of the soft prices of sugar," Tubio added.
Soft prices coincided with geopolitical difficulties in the region which delayed payments for exports due from the Kurdistan Regional Government (KRG).
It was another sign of soft prices as several measures of inflation have retreated in recent months, removing some of the pressure on central bankers to raise the benchmark interest rate more rapidly.
In the non-life segment, soft prices will constrain premium growth in a fragmented marketplace.
These conversations are taking place all around the world as the mining business wades through this period of soft prices for commodities.
Rail transportation service issues helped impede utilities from rebuilding coal stockpiles, further hurting the demand for coal and contributing to soft prices. Central Appalachia NYMEX December 2014 average prompt month coal declined 13% to $50.06/ton from an average price of $56.60/ton in December 2013.
Merchandise exports fell 2.3% in United States (US) dollar terms in the first half, weighed down by subdued demand and soft prices for export commodities including coal and rubber.
"On top of this, house building activity is likely to be constrained by persistently weak housing market activity, soft prices and a worrisome outlook."
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