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COCOA

 

Cocoa Prices continued at the top of the range experienced over the past 6 month or so – but in the latter half of August, the 1650 level was well and truly breached and the period to today ended at the highest point since early November 2011.

As we move to the end of the current crop year, there is a strong bullish mood to the market with volumes from major cocoa areas coming in below LY figures – although this was expected, the outlook across most commodity markets is causing firming of prices. See the link on the main Newsletter page which certainly causes concerns!

 

CURRENCY

Sterling eased during August settling in a range around €1.26-€1.27. It's a case of watching and waiting as to what happens in the Euro zone, an announcement later today will shape the coming months. The economy remains different shades of bad around the world, but Sterling feels at the ‘right' rate for the time being.

SUGAR

Still a confused situation, and the Sugar Industry generally is playing hard to pin down regarding prices for the coming Sugar year (from 1st October). The droughts and subsequent poor crops in North America and around Eastern Europe have led to Cereal & Dairy price inflation and this will continue – as per our last Newsletter

 

Tony Mycock
6th September 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