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.
Have your say on this story using the comment section below
Mike Jones
blog comments powered by Disqus
(0) Comments | Report Abuse
Editorial Contact Details - Conor Shilling
conor.shilling@angelsmedia.co.uk
Rent costs are putting the squeeze on workers and pensioners
Signs of a credit slowdown? Figures hint at an ease in borrowing appetite
Is the London house price bubble bursting?
Can consumers steal a march on the markets when it comes to interest rates?