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Commodity and Currency Reports

   
         
   


Cocoa Market

Speculators have been operating in Commodity markets over recent weeks and this caused the market to hit 1800 early in June. However the market has dropped back to a range around 1600. Light volumes are being traded and we are now in the quieter summer months with the mid crop in Africa due to start coming in during July.

Currency

Sterling continues its trend strengthening against the Euro and the US$, although during June there were the usual ups and downs. At one stage the £ hit Euro1.19 and we fully expect the overall trend to continue for the rest of this year, maybe we will see a level of 1.25 by December..

 

Overall

This is probably really sticking my neck out, but given the currency trend and the cocoa market levels, I anticipate that Chocolate prices for the first half of 2010 will reduce by how much time will tell!

Tony Mycock 02.07.2009



   
   
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HB Ingredients
Cocoa House, 22 Bell Lane,Bellbrook Industrial Estate,
Uckfield East Sussex. TN22 1QL.
Tel:+44(0)845 88 00 799 Fax:+44(0)845 88 00 833