(Bloomberg) -- Cocoa in New York rose the most in
eight sessions on speculation that recent rains may not help the
crop in Ivory Coast, where supplies available for export already
lag behind last season.
About 1.075 million metric tons of cocoa arrived at ports
from Oct. 1 to June 3 in Ivory Coast, the world's largest
producer, down 9.3 percent from the same period a year earlier,
according to a Sucden Research report. The International Cocoa
Organization's forecast that the country's current crop will
reach 300,000 tons is ``too optimistic,'' said Adam
Klopfenstein, a senior market strategist for Lind-Waldock.
Read more at Bloomberg Commodities News
eight sessions on speculation that recent rains may not help the
crop in Ivory Coast, where supplies available for export already
lag behind last season.
About 1.075 million metric tons of cocoa arrived at ports
from Oct. 1 to June 3 in Ivory Coast, the world's largest
producer, down 9.3 percent from the same period a year earlier,
according to a Sucden Research report. The International Cocoa
Organization's forecast that the country's current crop will
reach 300,000 tons is ``too optimistic,'' said Adam
Klopfenstein, a senior market strategist for Lind-Waldock.
Read more at Bloomberg Commodities News
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