Commodity in Focus: Exploring the key drivers for soft commodities in H2 2024

2024 has seen a dynamic start for soft commodities, with prices witnessing multi-year highs in Q1 2024. Tight inventories, deteriorating crop conditions due to El Niño weather patterns, trade restrictions, and evolving global demand dynamics are adding to the volatility in the market.

Given the uncertain environment, tracking soft commodities — essential ingredients in most food manufacturing — is critical. Commodity and Category Managers must stay agile and closely monitor these factors to make informed decisions.

In this 1h webinar, Hemant Bansal, our Head of Commodity Intelligence, together with our commodities experts Nidhi Jain and Kanica Goel, discussed what’s in store for soft commodities – cocoa, sugar, coffee, and frozen concentrated orange juice (FCOJ), including:

1. Current price trends and the pivotal factors influencing Q1 price movement

2. How the European Deforestation Regulation (EUDR) could shape market dynamics

3. The impact of weather phenomena like the end of El Niño and the potential arrival of La Niña in H2

4. The price forecast for soft commodities in H2 2024

Hemant Bansal

In his nine years with The Smart Cube, Hemant has risen through the ranks from a Forecasting Analyst to Commodity Solution Lead. Leading a team of 20, he is responsible for end-to-end delivery of commodity price forecasting projects for clients across major commodity categories. With a Master’s degree in Statistics, Hemant is an in-house expert of Commodity Volatility Management across sectors – including CPG, Industrials and Life Sciences. Outside work, he spends his weekends watching documentaries and reading applications of Bio-Statistics.

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