Colosseum a.s. (Colosseum a.s.)
Commodities  |  April 02, 2013 08:35:28

Cocoa on a seven-week highs

ColosseumPrerequisite lower yield of cocoa beans in the Ivory Coast and thus lower total cocoa stocks yesterday sent the price of this commodity up for the last 7 weeks. Since last year's first October to this year's 24th March decreased amount of cocoa beans shipped to ports in Ivory Coast by 1.3%. Moreover, it is expected in the current season, which began just this Friday, the 29th March, produced lower quality cocoa beans. Cocoa definitely not helped by the fact that the defect Ivory Coast lowered the minimum guaranteed price that farmers receive for their crops by 3.6%. May cocoa yesterday on ICE Futures U.S. closed on the price of 2184 USD per tonne.

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