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Cocoa prices at 24-year high as pound weakens

Posted on 26 January 2009

From FT: Cocoa prices in London surged above £2,000 a tonne yesterday for the first time in almost 24 years. Liffe May cocoa futures, the market benchmark, jumped 2.9 per cent to £2,005 a tonne, the highest level since April 1985.

Cocoa gained more than 13.5 per cent on the week, helped by sterling’s weakness against the dollar and the euro, but also boosted by worries about low supplies from the Ivory Coast and Ghana, which together account for about 56 per cent of global cocoa production….. Full Article: Source


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