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Commodities Briefing - Categorized | Agriculture, Price Watch more

Cocoa heads for biggest monthly drop in 5 years as dollar gains

Posted on 28 October 2008

From Bloomberg: Cocoa fell for a ninth straight session, heading for its biggest monthly drop since 2003, as the dollar’s surge increased the cost of commodities for overseas buyers.

The dollar rose against the U.K. pound for the seventh straight session as investors sought a haven from plunging emerging-market stocks and bonds. That increased the price of cocoa for buyers with pounds, the currency used to pay for the chocolate ingredient in West Africa, the world’s biggest supplier. …. Full Article: Source


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