21st July 2014
Soft commodities were largely in demand in online investing on Friday, with the increasing cocoa price taking its toll on the cost of chocolate in the shops.
Although it emerged that second quarter Asian and North American grinds would be higher than previously expected, that couldn't totally negate the larger decline anticipated in Europe, which could lead to shortages and had a hand in Hershey's bumping up their retail prices by eight per cent to compensate.
Output from top producer Ivory Coast is also set to be lower next year, while there's a similar story in the short-term for the amount of Robusta coffee that Cameroon is exporting. Between December and June, 10,469 tons left the country compared to 10,695 tons at the same time last year.
Sugar was also up slightly in Friday's online investing after trader Copersucar suggested that it expects there to be a three million ton global deficit in 2014/15, partly because of the growing problems in Brazil.
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