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COCOA

 

Cocoa Prices remained within the recent range seen over the past few months, however during the last week of June the market rose to the top end of the range – increasing by 6.7% in one week. This was largely due to the overall increase in Commodity markets following the new funding announcement from the ECB for the ailing economies in Europe – Spain and also probably Italy soon… Also the new Auction system in the Ivory Coast have been more successful than anticipated with a total of 830,000tonnes now confirmed as sold. This effectively opens the door for the speculators who of course know that the world's largest producer has onl;y a very limited volume left to sell in the current Crop Year, thus we can expect prices to remain firm and probably increase further over the coming weeks

 

CURRENCY

Not much news here in terms of the relative value of Sterling against the Euro. The new ECB package has not skewed the market too much and we expect the trend to continue with sterling – slowly, slowly – heading towards €1.30

SUGAR

Some interesting and lively comments this month

Confectionery News Articles:

Sugar prices down due to expected surplus

German confectioners report grim prospects as EU sugar prices soar

EU confectioners challenge proposals to postpone sugar quota abolition

Enough is enough says Nestle procurement head on EU sugar regime

 

Tony Mycock
4th July 2012

 

 
       
   
   
   

HB Ingredients
Cocoa House, 15, The Cliffe Industrial Estate, Lewes, East Sussex. BN8 6JL.
Sales order hot-line:+44(0)844 32 44 499
Enquiries:+44(0)845 88 00 799 Fax:+44(0)845 88 00 833