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Cocoa prices drop to one-year low as emerging-market use wanes

Posted on 27 October 2008

From Bloomberg: Cocoa prices fell to a one-year low in New York on speculation that emerging economies are heading for a slump, slashing commodity use.

Cocoa climbed 35 percent in the two years through Dec. 31 as demand for chocolate climbed in countries including China and India. Chinese President Hu Jintao said today his country faces “uncertainties” because of the global financial crisis. India faces a “temporary slowdown,” Prime Minister Manmohan Singh has said. …. Full Article: Source


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