Commodities - Ivory Coast

Ivory Coast

The nominal value in the Commodities market is projected to reach US$59.30bn 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$76.43bn by 2029.
The average price per contract in the Commodities market amounts to US$0.08 in 2024.
From a global comparison perspective it is shown that the highest nominal value is reached in the United States (US$53,690.00bn in 2024).
In the Commodities market, the number of contracts is expected to amount to 663.20k by 2029.

Market

Region

Region comparison

Currency

Analyst Opinion

The Commodities market in Ivory Coast is experiencing a notable shift in recent years, driven by evolving customer preferences and local special circumstances.

Customer preferences: Customers in Ivory Coast are increasingly showing interest in investing in Commodities as a way to diversify their investment portfolios and hedge against market volatility. With a growing awareness of the potential returns from Commodities trading, more investors are actively participating in this market.

Trends in the market: One of the key trends in the Commodities market in Ivory Coast is the rising demand for derivatives linked to agricultural products. Given the country's strong agricultural sector, investors are keen on trading Commodities linked to crops like cocoa, coffee, and rubber. This trend is further fueled by the global demand for these agricultural products, making them attractive options for investors in Ivory Coast.

Local special circumstances: Ivory Coast's position as one of the world's largest producers of cocoa plays a significant role in shaping the Commodities market in the country. The reliance on cocoa exports for economic growth has led to a close correlation between the performance of the cocoa market and the overall economy. As a result, local traders and investors closely monitor cocoa prices and actively engage in trading cocoa derivatives.

Underlying macroeconomic factors: The stability of the political environment and government policies in Ivory Coast has a direct impact on the Commodities market. Favorable policies that support the agricultural sector, such as subsidies and infrastructure development, can lead to increased trading activities in agricultural Commodities. Additionally, macroeconomic indicators like inflation rates, currency exchange rates, and GDP growth also influence investor sentiment and trading volumes in the Commodities market.

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.