Edward George, head of soft commodities at Ecobank, says chocolate will become a luxury in Europe as cocoa prices shoot up.» Read More
Cocoa prices were firm ahead of the latest quarterly grind data, while sugar was higher. Arabica coffee prices hovered near a two-year high of $2.0755 per lb hit on March 11, underpinned by concern that rainfall at the end of top grower Brazil's wet season came too little too late after drought in January and February.
ZURICH, April 3- Barry Callebaut, the world's biggest chocolate maker, reported a rise in half-year profits on Thursday, boosted by the turnaround of the Petra Foods' cocoa business it bought over a year ago, and reaffirmed its medium-term sales growth target.
ZURICH, April 3- Barry Callebaut, the world's biggest chocolate maker, reported a rise in half-year profits on Thursday, boosted by the turnaround of the Petra cocoa business it bought over a year ago, and reaffirmed its medium-term sales growth target.
LONDON, March 19- Arabica coffee futures on ICE edged higher on Wednesday having slipped from last week's highs partly due to expectations that the weather in Brazil could improve in the coming weeks, while raw sugar held steady.
NEW YORK/ LONDON, March 18- ICE cocoa eased from Monday's 2-1/ 2- year high on profit-taking, while arabica coffee edged higher on renewed speculator buying and lingering worry over the extent of drought damage to crops in top grower Brazil.
*Cocoa 2013/ 14 consumption growth to exceed long-term trend. LONDON, March 18- Cocoa futures held near a 2-1/ 2 year high on Tuesday, boosted by strong consumption growth that was expected to outstrip supply. Cocoa futures on ICE were little changed with May off $2 or 0.1 percent at $3,028 at 1206 GMT, holding just below the previous session's 2-1/ 2- year high of $3,047.
*Sugar back on defensive after Brazil- driven rally. NEW YORK/ LONDON, March 17- Arabica coffee futures on ICE dropped for the second straight day on Monday, its biggest two-day tumble in 2-1/ 2 years, as a forecast for widespread rain in top grower Brazil's coffee belt took out some of the market's weather premium.
*Sugar back on defensive after Brazil- driven rally. LONDON, March 17- Arabica coffee futures on ICE were lower on Monday, extending a retreat from last week's two-year high with the focus remaining on the extent of damage to Brazil's crop prospects from dry weather earlier this year.
*Small delivery seen against London cocoa expiry. Cocoa edged up as traders focused on expiry of the London March contract. "The lower price has forced more people to fix contracts", before prices fall further, one London- based coffee futures broker said.
*Arabica crawls toward 2- yr high on Brazil weather worries. NEW YORK/ LONDON, March 13- ICE arabica coffee futures rose and traded near a two-year high on weather-related crop concerns in top grower Brazil, while cocoa rallied the most since January and recovered the previous day's sharp losses on bargain-hunting.
LONDON, March 13- Arabica coffee futures rose and traded near a two-year high, underpinned by concerns over drought in Brazil, while cocoa edged up on expectations of a global deficit and firm demand.
*Cocoa underpinned by expected 2013/ 14 global deficit. NEW YORK/ LONDON, March 11- Arabica futures extended their steep rally on Tuesday, touching a two-year high as parts of top grower Brazil's coffee belt failed to receive enough rain, while robusta rose to a one-year high.
*Analysts see damage to Brazil coffee due to drought. LONDON, March 11- Arabica coffee futures rose over 2 percent on Tuesday to hit a two-year high and sugar hovered near a four-month peak on concerns over a drought in top grower Brazil.
*Cocoa dealers worry about quality despite good weather. NEW YORK/ LONDON, March 10- Arabica coffee prices on ICE climbed to a two-year high in light volume on Monday after top grower Brazil's parched coffee belt received less weekend rain than expected, raising the prospect of a 2014/ 15 global deficit. Cocoa was up a shade after nearing 2-1/ 2- year highs.
*Cocoa moves sideways, underpinned by firm demand. NEW YORK/ LONDON, March 5- Arabica coffee futures surged on heavy investor buying on Wednesday, nearing a two-year high as concern about crop damage from a drought in top grower Brazil continued to fuel the volatile market, while raw sugar jumped to a four-month high. Cocoa on ICE Futures U.S. and Liffe were firm.
SINGAPORE, Feb 21- Global cocoa prices have rallied to 2-1/ 2- year highs on worries El Nino could return in 2014, while other agricultural commodity markets could also be hit by the spectre of the weather anomaly. El Nino means "boy" in Spanish and was first used by anchovy fishermen in Ecuador and Peru in the 19th century.
CNBC's Morgan Brennan reports cocoa prices are up more than 35 percent over the past 12 months.
"Chocolate is more popular than ever," explains Godiva CEO Jim Goldman, in discussing just how popular Valentine's Day is for his stores. He discusses high cocoa prices right now.
Jonathan Parkman, head of agriculture at Marex Spectron, says the strong performance of Mondelez and Nestle in the cocoa sector underpinned the commodity's price rally last year.
NEW YORK, Feb 12- The softs complex dominated gains in commodities markets on Wednesday as cocoa hit 2-1/ 2- year highs while raw sugar and arabica coffee rallied on factors ranging from bullish crop weather to an India government subsidy and investor speculation.