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COCOA

 

Cocoa Prices remained within an overall range of 1450-1540 during May, being firm for the first half of the month before dropping lower during the latter part before recovering to the 1500 level. Nothing of huge note would indicate that prices will move out of the current range for the coming weeks, the recent rise followed the general trend in increased Commodity prices across the board. This is the time of year when rainfall in the major West African growing areas is watched closely as this will directly impact on pod development for the next Crop Year which starts in the Autumn. Little rain will negatively impact on the overall crop size and lead to higher prices due to a potential deficit. Watch this space over the coming 2 or 3 months!

 

CURRENCY

The ongoing Euro crisis continues to weigh on the Euro and it has continued to have a rocky relationship versus the GBP£ and US$. Having said that, Sterling remained within a finite range during May, but the looming Spanish Bank crisis will inevitably have a further negative impact on the Eurozone and the overall European economy.

Tony Mycock
7th June 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