Stat of the day: £1,900

The price of a tonne of cocoa - which has mercifully dropped from the 33-year record of £2,732, set in July.

by MT Staff
Last Updated: 09 Oct 2013
Good news for chocoholics: the price of cocoa is set to drop, after four years of shortages which sent its price rocketing, culminating in a record high in July. Cocoa traders say a surge in production in west Africa accounts for the drop. But what of Anthony 'chocolate finger' Ward, the cocoa trader who, in July, bought up 7% of the world's cocoa crop in one go? Worry not - apparently Ward and his hedge fund, Armajo, has hedged against the price drop, protecting it from making much in the way of losses. Consumers aren't going to do particularly well out of it, though: there's little likelihood, unfortunately, that the drop is going to affect the price of your Twix. But given it contains 246 calories, that's probably a good thing in the long run...

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