If the price of cocoa has begun a serious slump since last September, even showing a decrease of 30% during 2011, prices continued to fall during the last week of the year.
Main factors leading to this situation: an oversupply from Africa whiles the turbulence in the euro area part to boost dollar, currency of the main raw materials.
The situation in Côte d'Ivoire, which accounts for 35% of world supply, is in turn critical.
Main factors leading to this situation: an oversupply from Africa whiles the turbulence in the euro area part to boost dollar, currency of the main raw materials.
The situation in Côte d'Ivoire, which accounts for 35% of world supply, is in turn critical.
With regard to the Ivorian production, the experts note that despite the precarious political situation, no significant signs of disturbance on exports may be increased at this time, the Ivory Coast literally flooding the market for several months.
Note also that the weather phenomenon La Nina should - according to experts - again create bumper crops in West Africa, potentially stopping prices for a long time.
Finally on the Liffe in London, a tonne of cocoa for March delivery was worth 1329 pounds Friday at the lunch break, against 1,355 pounds the previous week.
Meanwhile on the NYBOT-ICE U.S. contract for the same maturity was worth 2,021 dollars per tonne against 2,076 dollars last week.
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