Edward George, head of soft commodities at Ecobank, says chocolate will become a luxury in Europe as cocoa prices shoot up.» Read More
NEW YORK/ LONDON, Feb 12- Cocoa futures in New York and London hit 2-1/ 2- year highs on Wednesday on worries that potential El Nino weather conditions could curb global cocoa output, while ICE raw sugar rallied the most in almost two weeks on short-covering. May cocoa on ICE gained $43, or 1.3 percent, to settle at $2,971 a tonne, after hitting a 2-1/ 2- year high of $2,974.
*India sets sugar support at 3,333 rupees/ tonne. NEW YORK/ LONDON, Feb 12- Cocoa futures in New York and London hit 2-1/ 2- year highs on Wednesday on worries that potential El Nino weather conditions could curb global cocoa output, while raw sugar prices rallied the most in almost two weeks on short-covering.
Cocoa is up about 30 percent in the last 12 months, reports CNBC's Morgan Brennan. Stronger demand, and fewer supplies are contributing.
Jonathan Parkman, head of agriculture at Marex Spectron, discusses the outlook for the cocoa market in 2014 and the role emerging markets will play in the price movement of the commodity.
*Cocoa grind data to be released Thursday at 2100 GMT.
ABIDJAN, Jan 10- Smugglers have trafficked around 40,000 tonnes of Ghanaian cocoa beans into top grower Ivory Coast since November to take advantage of a drop in Ghana's cedi currency, exporters and merchants said.
*Cocoa supported by expected stronger grind data. Cocoa futures climbed in rangebound dealings while Liffe robusta coffee dropped. March raws on ICE were down 0.30 cent, or 1.9 percent, at 15.76 cents a lb by 12:10 p.m. EST after touching 15.72 cents, the weakest level for the front month since July 2010.
NEW YORK, Jan 3- Gold hit two-week highs and cocoa also rallied while many other commodities were down or little changed on Friday after a snowstorm hit the east coast of the United States, keeping traders from their desks and thinning market volumes.
Gold edged lower on heightening concerns over deflation, oil slipped on profit-taking after three days of gains and cocoa fell from a 2- year high, consolidating from last week's rally. Gold edged lower, heading for its biggest annual loss in three decades and facing further downside forecasts for 2014..
*Vietnam robusta beans sold at discount to London futures. NEW YORK/ LONDON, Dec 19- ICE raw sugar jumped on Thursday, recovering from the previous day's 3-1/ 2 year low as a technically oversold condition drove buying. Cocoa futures advanced in rangebound trade, underpinned by deficit expectations and drawing support from the U.S.
*Strong Ivory Coast port arrivals threaten cocoa bull run. NEW YORK/ LONDON, Dec 18- ICE raw sugar futures and Liffe whites quietly extended losses to 3-1/ 2 year lows on Wednesday, falling deeper into oversold territory as funds continued to sell a market weighed down by surplus supplies.
NEW YORK, Nov 15- Coffee had its biggest gain in more than two years in London, reflecting bad harvesting weather for Vietnam's robusta crop, while cocoa rallied in New York as the "softs" markets dominated Friday's action in commodities. Coffee and cocoa had among the biggest gains of the day on the Thomson Reuters/ Core Commodity CRB index.
NEW YORK, Nov 11- London- based Armajaro Holdings Ltd will sell its commodity trading arm to Swiss agricultural trader Ecom Agroindustrial Corp Ltd, creating one of the world's biggest physical cocoa and coffee dealers in the latest deal to roil this niche market.
NEW YORK, Nov 11- Swiss commodity trader Ecom Agroindustrial Corp Ltd has struck a deal to buy London- based Armajaro Holdings Ltd's commodity trading operations, creating one of the world's biggest cocoa and coffee traders.
NEW YORK, Nov 11- Swiss commodity trader Ecom Agroindustrial Corp Ltd is close to an agreement to buy London- based Armajaro Holdings Ltd's physical softs commodity trading operations, which would create one of the world's biggest cocoa and coffee traders, a source familiar with negotiations told Reuters.
*Net profit falls to 229 mln Sfr, beats poll. ZURICH, Nov 7- Barry Callebaut, the world's No. 1 chocolate and cocoa maker, beat analysts' forecasts on Thursday as big food groups, such as Nestle and Mondelez, outsource more chocolate making and as confectionery sales rise worldwide.
Abah Ofon, Director, Agricultural Commodities Research at Standard Chartered explains what's behind the sharp divergence between coffee and cocoa prices this year.
*Cocoa rises as investors seize on low prices. Cocoa futures on both ICE and Liffe were firm but trading within the range of recent sessions. The contract has dropped around 26 percent in 2013 so far, making it the second weakest performer, next to Chicago Board of Trade corn, on the Thomson Reuters/ CoreCommodity CRB index, a global benchmark for commodities.
Cocoa is rose over 2.5 percent in 1 week, and hit a 4-week high on Friday. Alan Knuckman, Trading Advantage, explains how he is using options to profit from the commodity's move.
Jonathan Parkman, head of agriculture at Marex Spectron, told CNBC, Cocoa is very prone to disease and that creates more volatility in the market, the major manufacturers have been educating the farmers to try and reduce this.