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Thursday 28th August, 2014

Time: 8:30am


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Figure 1: World Cocoa (Surplus/Deficit) and Price Trend $3,475

250

$2,975

175 100

$2,475

25 -50

$1,975

-125 $1,475

Surplus ICE Futures (Right Scale)

20013/14*

20012/13

20011/12

20010/11

2009/10

2008/09

2007/08

2006/07

2005/06

-200 2004/05

Surplus/Deficit (Thousand Tonnes)

325

Deficit LIFFE Futures (Right Scale)

Source: ICCO Quarterly Bulletin of Cocoa Statistics, Bloomberg; * - Estimate

Figure 2: Cocoa Price Movement 3442

3042 2842 2642 2442 2242 2042

6/10/2011 7/22/2011 9/1/2011 10/13/2011 11/23/2011 1/6/2012 2/17/2012 3/30/2012 5/14/2012 6/25/2012 8/6/2012 9/17/2012 10/26/2012 12/7/2012 1/23/2013 3/6/2013 4/18/2013 5/30/2013 7/11/2013 8/21/2013 10/2/2013 11/12/2013 2/24/2013 2/7/2014 3/21/2014 5/5/2014 6/16/2014

$/MT

3242

Cocoa Futures (ICE)

Cocoa Futures (LIFFE)

Source: Bourse Africa Research and Bloomberg


Table 01: Cocoa Futures Price (June 2011 – June 2014) Particulars

ICE Futures US

ICE NYSE Liffe London

Daily volatility

1.57%

1.48%

Annualized volatility

24.99%

23.43%

Source: Bourse Africa Research and Bloomberg


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Business World Magazine Issue 33  

On the Edge: Will An IMF Bailout save Ghana?

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