Cocoa prices moved erratically this week as some analysts fed renewed West African crop concerns into the market while others tried to guess the next move by the all-powerful funds – sellers or buyers?
Cocoa futures in London dipped from its recent highs as the pound recovers.
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More than 70 new price lines were added to IEG Vu’s Price Graphing Tool in June, including values for Brazilian soybeans and corn, African-origin cashew kernels, European beef and eggs, and Chinese raw material asparagus.
London cocoa futures settled higher again last night (June 20) as a weaker British pound continued to offer support.
Cocoa futures in London are currently supported by a weaker pound, while in New York values continue to retreat.
Swedish ingredients firm AarhusKarlshamn (AAK) has signed an exclusive distribution agreement with Food Specialities Limited (FSL), a leading food and beverage ingredient supplier in the GCC (Gulf Cooperation Council) region.
Cocoa production in Nigeria has fallen short of its capabilities over several years, however the country’s cocoa association promises to rectify issues holding the sector back.
A weaker start to the week saw cocoa prices in both New York and London soften.
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