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Agricultural Commodities Cocoa Commodity Market Trades, Charts

  • NEW YORK, Aug 11- Three former executives at Transmar Commodity Group Ltd on Friday pleaded not guilty to defrauding banks to win a $400 million credit line for the now-bankrupt New Jersey- based cocoa trading company. Peter G. Johnson, who was Transmar's chief executive; his son Peter B. Johnson, who oversaw Transmar's Euromar Commodities affiliate; and Thomas...

  • NEW YORK, Aug 8- Three former executives at Transmar Commodity Group Ltd have been charged with defrauding banks to win a $400 million credit line for their now bankrupt New Jersey- based cocoa trading company, federal prosecutors said on Tuesday. Peter G. Johnson, who was Transmar's chief executive; his son Peter B. Johnson, who oversaw Transmar's Euromar...

  • NEW YORK, Aug 8- Three former executives at Transmar Commodity Group Ltd have been charged with defrauding banks to win a $400 million credit line for their now bankrupt, New Jersey- based cocoa trading company, federal prosecutors said on Tuesday. Peter G. Johnson, who was Transmar's chief executive; his son Peter B. Johnson, who oversaw Transmar's Euromar...

  • Attorney Joon H. Kim announced the arrests of executives of Transmar Commodity Group Limited, saying evidence against the men included emails in which they discussed using fake financial records to maintain a $250 million to $400 million line of credit from banks. Those charged in an indictment were identified as Peter G. Johnson, 68, of Harding Township, New...

  • ABIDJAN, Aug 1- Ivory Coast's prime minister has decided to sack the head of the Coffee and Cocoa Council Massandje Toure Litse, owing to a crisis over cocoa contract defaults and other management issues, sources said on Tuesday. Ivory Coast's cocoa industry has suffered a wave of defaults on cocoa contracts this year, after exporters speculating that prices...

  • ACCRA/ ABIDJAN, June 26- Up to 80,000 tonnes of cocoa beans have been smuggled into Ghana from neighbouring Ivory Coast since the start of April, as Ivorian growers take advantage of higher prices in the neighbouring country, exporters said on Monday. Ghana, the world's number two cocoa grower, maintained its farmgate price at $1,914 per tonne, creating a price gap...

  • ABIDJAN, June 19- The International Monetary Fund's Executive Board approved $224.8 million in additional credit for Ivory Coast under an existing lending framework, it said in a statement on Monday. Ivory Coast has emerged from a 2011 civil war to become Africa's fastest growing economy, but the government has had to cut its budget this year amid falling cocoa...

  • ACCRA, June 7- Ghana will begin its minor cocoa mid-crop purchases on Friday and will keep the price at which it buys beans from farmers at 7,600 cedis per tonne, industry regulator Cocobod said on Wednesday. This translates to 7,600 cedis per tonne, "Cocobod said in a statement. Cocobod Chief Executive Joseph Boahen Aidoo said on Tuesday that Ghana might not pay...

  • *World Bank draft report critical of Ghana cocoa regulator. ACCRA, June 5- Corruption and regulatory mismanagement of Ghana's cocoa industry are denting production and harming farmers, underlining the need for reform, the World Bank said in a draft report seen by Reuters. Ghana produced a record 1 million tonnes of cocoa in the 2010-11 season, but output has since...

  • *Ivory Coast, Ghana production outlooks raised. LONDON, May 31- The International Cocoa Organization lifted its forecast on Wednesday for a global cocoa surplus in the current 2016/ 17 season to 382,000 tonnes, citing higher than previously expected output in top producers Ivory Coast and Ghana. The ICCO noted the Ivory Coast had cut its farmgate price for the...

  • ABIDJAN, May 29- Ivory Coast, Africa's fastest growing economy last year, will issue a $1 billion Eurobond next month, Finance Minister Adama Kone told Reuters on Monday, as it deals with budget pressure caused by falling cocoa prices and unrest in the army. However, a steep decline in cocoa futures in New York and London this year have put a squeeze on revenues at a...

  • ABIDJAN, May 1- Ivory Coast President Alassane Ouattara urged cocoa farmers to raise production and quality and said a 40 percent fall in global cocoa prices this season had hurt the nation's economy and budget. Bumper crops in Ivory Coast, the world's top producer, and other countries have sent prices tumbling this season. Ivory Coast has slashed its 2017 budget...

  • *Ghana, Ivory Coast increasing cooperation. ABIDJAN, April 25- Ghana's Cocobod needs around $400 million in bridge financing from the central bank to cover its operations for the remainder of the cocoa season after its annual syndicated loan ran out early, the industry regulator's chief executive said on Tuesday. We're going to the central bank, the Bank of Ghana,...

  • NEW YORK/ LONDON, March 24- Arabica coffee on ICE Futures U.S. on Friday dropped to the lowest since early January as cocoa futures also fell while raw sugar prices continued to recover from Wednesday's 10- month low. *May arabica closed down 2.9 cents, or 2.06 percent, at $1.376 per lb, settling near the session's 2-1/ 2- month low of $1.371. *May robusta followed,...

  • NEW YORK/ LONDON, March 23- Raw sugar futures on ICE jumped on Thursday, recovering from the previous session's 10- month low on short-covering, as cocoa on ICE Futures U.S. edged toward this week's two-month high and coffee prices retreated. *The market's decline has been driven by fund selling, a favorable production outlook in top grower Brazil and diminishing...

  • *May raw sugar futures were off 0.65 cents, or 3.6 percent, at 17.60 cents a lb at 1521 GMT after dipping to a low of 17.52 cents, the weakest for the front month since early June last year. *May white sugar fell $11.30, or 2.2 percent, to $499.00 a tonne. *Mexico demands reciprocity in its refined sugar-for-fructose trade with the United States and it is unfair to "punish" its...

  • ABIDJAN, March 15- Cocoa grinding companies in Ivory Coast said they are rejecting between 30 and 50 percent of beans because of high acidity levels, which along with other quality problems is likely to cause a sharp drop in port arrivals next week. Cocoa arrivals are up nearly 7 percent so far this season from the previous season, with at least 40,000 tonnes being...

  • ABIDJAN, March 14- Cocoa exporters in top producer Ivory Coast expect port arrivals to fall by half to around 20,000 tonnes per week from next week, and to remain at that low level until May or June owing to poor bean quality, they said on Tuesday. Cocoa arrivals this season so far are up nearly 7 percent since last season, with at least 40,000 tonnes being delivered...

  • ABIDJAN, March 14- Cocoa exporters in top producer Ivory Coast expect port arrivals to fall by half to around 20,000 tonnes per week from next week, and to remain at least that low level until May or June owing to poor bean quality, they said on Tuesday. Cocoa arrivals this season so far are up nearly 7 percent since last season, with at least 40,000 tonnes being...

  • Child Labour Cocoa

    Tulane University's Elke De Buhr says there are still a number of children working in cocoa production despite the fair trade cocoa movement.