Cocoa investor corners market
Tuesday 20th July 2010
A hedge fund manager has reportedly cornered a large piece of the world's cocoa market after buying 240,000 tonnes of cocoa beans.
The £650million investment buys enough cocoa to make more than five billion small chocolate bars.
The investment was reportedly made by Anthony Ward's hedge fund Armajaro - which would not confirm or deny the reports to the BBC.
The price of cocoa has risen sharply in recent years due to increased demand - and has just hit a 33-year high.
The deal is the single largest cocoa trade in 14 years, the reports suggest.
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Mike Jones
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