Prices for cocoa in London reached a 23-year peak during the auction on 24 December, reports BBC News. The cost of the May futures tonne pulses of 1820 pounds (2675 dollars) per ton. Thus, cocoa in 2008, became the most profitable investment commodity.
Total for the year of cocoa beans went up by 76 percent. For comparison, the price of gold in 2008, virtually unchanged, and the WTI crude oil brands podeshevela to 2.3 times.
In the U.S., the price of cocoa also rose, though not as much. This is due to the rising dollar against the pound. Most of the commodities on the world market is traded in dollars, while cocoa in London, estimated in pounds.
This week, cocoa beans went up by more than 4 percent. The immediate cause was the growth forecast of the Belgian-Dutch financial group Fortis, awaiting the fall of supply in the season 2008/2009 year of 45 thousand tons. Analysts bank justified this crop failure in West Africa, said Bloomberg.
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