The price of cocoa is on its quarter century peak
The March term cocoa prices increased to its 24 and a half year peak on Monday afternoon, because of the unfavorable outlook for the global supply. Investors worry of cocoa deficit.
The March term cocoa price was 2124 pound per tonne on the London futures and derivatives markets (LIFFE). This is nearly a 6 percent increase, compared to the closing price on Friday.
The less cocoa harvest, that is expected at Ivory Coast, can cause cocoa deficit, higher than expected. The African country is the world's leading producer of cocoa beans – reports MTI.
Related news
Related news
GKI: Deteriorating confidence indices and economic outlook in Hungary
In November, both businesses and consumers became more pessimistic about…
Read more >Arabica coffee price hits 47-year high
The futures price of arabica coffee has reached a 47-year…
Read more >Magyar Posta is preparing for the increased holiday traffic with 130 new vehicles
Magyar Posta expects to deliver more than 7 million packages…
Read more >