Cocoa and coffee deficit may come

By: trademagazin Date: 2009. 12. 21. 00:00

On Friday, the future quote of cocoa decreased by more than 5 percent in New York, losing its whole exchange-rate gains of December. The price of cocoa is still in historical heights.

Friday's decline was due to investors profit realistaion. On Friday the price fell to 3251 USD, after a 5.05 percent decrease. Its 30 year peak was a few days earlier, reaching around 3500 USD.
The estimations for the world's coffee yield also decreased. The U.S. Ministry of Agriculture has forecasted 125.2 million bags (1 bag = 60 kilograms) in the 2009/2010 product year. On Friday, the U.S. Ministry of Agriculture presented a new estimation which is smaller by 2.2 million bags, compared to the previous June forecasts – reports Világgazdaság Online.