Trader Buys all of Europe's Cocoa Supply
Page last updated on 2011 / 02 / 08An unknown trader has sparked intrigue by placing the largest trade in a decade and a half and buying all of Europe's stored cocoa, amounting to a little over a billion Canadian dollars at today's exchange rates.
Analysts suspect it may be a financial institution outside the sector, such as a hedge fund, attempting to corner the market due to price discrepancies between Europe and the USA.
Prices have been edging higher due to fears about supply from African producers.
The British Telegraph has a piece written on the matter, with user comments.
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