Colosseum a.s. (Colosseum a.s.)
Commodities  |  April 22, 2013 12:12:28

Cocoa on ICE Futures U.S. rose to the level of the four-month highs



ColosseumAt level four-month highs strengthened over the past week most active futures contract for cocoa on the ICE Futures U.S. cocoa bean harvest in Indonesia, which is the Ivory Coast's third largest grower, gaining for a longer period of rainfall delays and weak exports could indicate a lower than expected harvest. The rising price of cocoa was last week further supported by data regarding the processing of beans in the United States. National Confectioners Association report last week revealed an unexpected increase in the volume of processed cocoa beans in the first three months of this year by 5.8% to 125,887 metric tons. However, analysts polled by Bloomberg had expected that that figure will reach a maximum of 118,061 metric tons. Futures on the cocoa with the July delivery date on the ICE Futures U.S.in the last trading session last week gained 65 USD at the closing price of $ 2,333 per metric ton, the highest since December 21 last year.

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