Agricultural Product Derivatives - Ivory Coast

Ivory Coast

The nominal value in the Agricultural Product Derivatives market is projected to reach US$8.85bn in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 5.21% resulting in a projected total amount of US$11.41bn by 2029.
The average price per contract in the Agricultural Product Derivatives market amounts to US$0.03 in 2024.
From a global comparison perspective it is shown that the highest nominal value is reached in the United States (US$12,320.00bn in 2024).
In the Agricultural Product Derivatives market, the number of contracts is expected to amount to 217.00k by 2029.

Market

Region

Region comparison

Currency

Analyst Opinion

The Agricultural Product Derivatives market in Ivory Coast is experiencing a notable shift in recent times.

Customer preferences: Customers in Ivory Coast are increasingly showing interest in agricultural product derivatives as a way to diversify their investment portfolios and hedge against price fluctuations in the global market.

Trends in the market: One of the significant trends in the Agricultural Product Derivatives market in Ivory Coast is the growing demand for cocoa derivatives. Given that Ivory Coast is the world's largest producer of cocoa, investors are keen on leveraging this position by trading cocoa futures and options. Additionally, there is a rising interest in coffee derivatives, reflecting the country's status as a key coffee producer in the region.

Local special circumstances: Ivory Coast's strong agricultural sector, particularly in cocoa and coffee production, plays a crucial role in shaping the Agricultural Product Derivatives market. The country's reliance on these commodities for export revenue creates a unique environment where agricultural product derivatives play a vital role in managing price risks and ensuring market stability.

Underlying macroeconomic factors: The stability of Ivory Coast's economy and its position as a major player in the global agricultural market contribute significantly to the development of the Agricultural Product Derivatives market. Favorable government policies and initiatives to support the agricultural sector further enhance the attractiveness of agricultural product derivatives as a financial instrument for investors in Ivory Coast.

Methodology

Data coverage:

Figures are based on commodity derivatives, their notional value, the number of contracts traded, the open interest (outstanding contracts at the end of a year), and the average value of a contract.

Modeling approach / Market size:

Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use market research & analysis, and data of World Bank, as well as the World Federation of Exchanges. Furthermore, we use relevant key market indicators and data from country-specific associations and national data bureaus such as GDP, wealth per capita, and the online banking penetration rate. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. In this market, we use the HOLT-damped Trend method to forecast future development. The main drivers are GDP per capita an the online banking penetration rate.

Additional Notes:

The market is updated twice per year in case market dynamics change.