ICE ADV Volumes for January 2022, Strong Gains in Cocoa, up 35%

The Intercontinental
 
 Exchange 
(ICE) publishing the trading volumes for January 2022. Brent crude oil Average Daily Volume (ADV) is up 2% y/y. The total natural gas ADV is up 8% y/y.

Additionally, TTF gas ADV up 14% y/y, Power ADV up 12% y/y.

Due to the tension between Russia and Ukraine there has been some
 
 volatility 
in natural gas futures. Russia supplies natural gas to approximately 40% European countries. Russia’s central bank recently intervened in the Ruble.

Cocoa ADV increased by +35%, Environmentals ADV up 17% y/y. Environmental contracts reached record trading volumes in 2021. The total amount of traded carbon allowance soared to 18 billion tons. Approximately 19 million contracts were traded in on ICE throughout 2021.

15.2 billion EU carbon allowances contributed the most weight to the annual volumes. California carbon allowances reached 2.4 billion and 346 million Regional Greenhouse Gas Initiative allowances.

A new index, the Global Carbon Futures Index contract (CO2) has recently launched.

The newly added index ‘will provide access to the global cost of emissions, via four of the world’s largest cap and trade programs, in one instrument.’

The Ivory Coast Cocoa Exports

The Omicron virus has increase the demand for chocolate in the US with retail sales rising over 5% a quarter. The US chocolates marker has been estimated to be worth $20 billion. The Ivory Coast is the largest cocoa producer in the world. Due to a dry season with no rain, the Ivory Coast reduced the amount of cocoa it is sending.

Data revealed Nigerian cocoa exports rose 43.5% in the first eight months of 2021. Due to restrictions imposed by the Nigerian government to contain covid19 exports were reduced.

The Output for the October 2021 to September 2022 season is estimated to reach 280,000 tons, which is under the 320,000 tons the Cocoa Association had estimated for Nigeria.

Cocoa March 2022 is currently the most active.

The Intercontinental
 
 Exchange 
(ICE) publishing the trading volumes for January 2022. Brent crude oil Average Daily Volume (ADV) is up 2% y/y. The total natural gas ADV is up 8% y/y.

Additionally, TTF gas ADV up 14% y/y, Power ADV up 12% y/y.

Due to the tension between Russia and Ukraine there has been some
 
 volatility 
in natural gas futures. Russia supplies natural gas to approximately 40% European countries. Russia’s central bank recently intervened in the Ruble.

Cocoa ADV increased by +35%, Environmentals ADV up 17% y/y. Environmental contracts reached record trading volumes in 2021. The total amount of traded carbon allowance soared to 18 billion tons. Approximately 19 million contracts were traded in on ICE throughout 2021.

15.2 billion EU carbon allowances contributed the most weight to the annual volumes. California carbon allowances reached 2.4 billion and 346 million Regional Greenhouse Gas Initiative allowances.

A new index, the Global Carbon Futures Index contract (CO2) has recently launched.

The newly added index ‘will provide access to the global cost of emissions, via four of the world’s largest cap and trade programs, in one instrument.’

The Ivory Coast Cocoa Exports

The Omicron virus has increase the demand for chocolate in the US with retail sales rising over 5% a quarter. The US chocolates marker has been estimated to be worth $20 billion. The Ivory Coast is the largest cocoa producer in the world. Due to a dry season with no rain, the Ivory Coast reduced the amount of cocoa it is sending.

Data revealed Nigerian cocoa exports rose 43.5% in the first eight months of 2021. Due to restrictions imposed by the Nigerian government to contain covid19 exports were reduced.

The Output for the October 2021 to September 2022 season is estimated to reach 280,000 tons, which is under the 320,000 tons the Cocoa Association had estimated for Nigeria.

Cocoa March 2022 is currently the most active.

Source: https://www.financemagnates.com/institutional-forex/ice-adv-volumes-for-january-2022-strong-gains-in-cocoa-up-35/