Colosseum a.s. (Colosseum a.s.)
Commodities  |  March 13, 2013 13:14:28

Cocoa strengthens in response to lower supplies in Ivory Coast

ColosseumAt level three-week highs strengthened during yesterday's trading session on the exchange ICE Futures U.S. The most active futures contract for cocoa. It was a response to the signs of low supplies from farmers in Côte d'Ivoire, which is a world leader in the production of that commodity. Government buys cocoa beans ibid fell in the first three months of the current marketing year that began in October 2012, by 7.5%. Volume of deliveries to ports fell to 649,249 metric tons, from last year's 702,127 metric tons. Increase in the price of cocoa also contribute unconfirmed reports of poor quality, unknown amount of cocoa beans. Cocoa futures for the May delivery date strengthened during yesterday's session 1.6% to the closing price of $ 2,165 per metric ton. During the day, the price reached up to 2.176 USD per tonne, the highest since Feb. 14.In the last four sessions increased the overall price of cocoa has about 6%.

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