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History Cocoa Bean Prices per Metric Ton in US Dollars
Written By mine on Rabu, 28 Desember 2011 | 18.24
History of cocoa bean prices for 5 years, start in 2006 to 2011, in the cocoa bean prices chart above we can see that high cocoa prices is in December and January 2009 about 3.52K. In November 2006, cocoa prices very low, it’s about 1.58K. But in November 2011 Cocoa prices is 2.53K.
Cocoa beans monthly Price history
Cocoa Price
Cocoa Prices Change
1,582.54
-
1,702.16
7.56%
1,701.93
-0.01%
1,811.15
6.42%
1,924.20
6.24%
2,034.25
5.72%
2,011.13
-1.14%
2,013.04
0.09%
2,151.67
6.89%
1,902.09
-11.60%
1,944.01
2.20%
1,916.67
-1.41%
1,967.31
2.64%
2,119.88
7.76%
2,216.38
4.55%
2,522.83
13.83%
2,647.64
4.95%
2,631.23
-0.62%
2,693.41
2.36%
3,021.76
12.19%
2,953.67
-2.25%
2,796.80
-5.31%
2,672.05
-4.46%
2,251.23
-15.75%
2,046.08
-9.11%
2,420.04
18.28%
2,608.89
7.80%
2,660.47
1.98%
2,493.98
-6.26%
2,541.70
1.91%
2,554.60
0.51%
2,699.61
5.68%
2,805.48
3.92%
2,956.66
5.39%
3,149.51
6.52%
3,372.50
7.08%
3,379.33
0.20%
3,517.54
4.09%
3,522.10
0.13%
3,276.56
-6.97%
3,089.65
-5.70%
3,221.23
4.26%
3,165.75
-1.72%
3,230.83
2.06%
3,229.55
-0.04%
3,071.71
-4.89%
2,874.98
-6.40%
2,927.45
1.83%
2,910.31
-0.59%
3,047.06
4.70%
3,164.48
3.85%
3,471.10
9.69%
3,392.97
-2.25%
3,113.51
-8.24%
3,070.77
-1.37%
3,015.64
-1.80%
3,167.18
5.03%
3,064.32
-3.25%
2,873.88
-6.21%
2,680.05
-6.74%
2,527.43
-5.69%
Month | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nov-06 | Dec-06 | Jan-07 | Feb-07 | Mar-07 | Apr-07 | May-07 | Jun-07 | Jul-07 | Aug-07 | Sep-07 | Oct-07 | Nov-07 | Dec-07 | Jan-08 | Feb-08 | Mar-08 | Apr-08 | May-08 | Jun-08 | Jul-08 | Aug-08 | Sep-08 | Oct-08 | Nov-08 | Dec-08 | Jan-09 | Feb-09 | Mar-09 | Apr-09 | May-09 | Jun-09 | Jul-09 | Aug-09 | Sep-09 | Oct-09 | Nov-09 | Dec-09 | Jan-10 | Feb-10 | Mar-10 | Apr-10 | May-10 | Jun-10 | Jul-10 | Aug-10 | Sep-10 | Oct-10 | Nov-10 | Dec-10 | Jan-11 | Feb-11 | Mar-11 | Apr-11 | May-11 | Jun-11 | Jul-11 | Aug-11 | Sep-11 | Oct-11 | Nov-11 |
Cocoa Beans Prices per Metric Ton in 30 years
Written By mine on Senin, 26 September 2011 | 05.57
Cocoa beans, International Cocoa Organization cash price, CIF US and European ports, US Dollars per Metric Ton in 30 years. Cocoa for delivery in May peaked at ?1,820 per tonne in London, which was its highest price since October 1985.
Cocoa traded in the US has also been rising, although not as strongly because of the strength of the dollar.
Most commodities are priced in dollars, even in London trading, but London cocoa is priced in sterling, so traders can benefit from the weaker currency. "Cocoa is on fire," said Sterling Smith from FuturesOne in Chicago.
There are concerns about falling cocoa production in Africa, while demand for cocoa is holding up much better than other commodities in the downturn.
Cocoa traded in the US has also been rising, although not as strongly because of the strength of the dollar.
Most commodities are priced in dollars, even in London trading, but London cocoa is priced in sterling, so traders can benefit from the weaker currency. "Cocoa is on fire," said Sterling Smith from FuturesOne in Chicago.
There are concerns about falling cocoa production in Africa, while demand for cocoa is holding up much better than other commodities in the downturn.
Global Stock Market Showing Data Commodity Prices Fall
Global stock market showing data of commodity prices fall, the US Federal Reserve warned of significant downside risks to the American economy, sparking a fierce selloff on global markets.
Sugar commodities: sugar prices, which have recently retreated on expectations that the 2011/12 season would see the first major surplus in three years, sharply accelerated losses.
"The macro picture has also caught up with the sugar market and it could be argued that the debt problem in Europe affecting bank capital and potential exposure, and the worsening economic prospects in the US are also a factor," said Sucden brokers analyst Nick Penney.
"All in all, a negative market in a negative economic backdrop. The fall has been swift as speculators and funds go into no risk mode."
By Friday on NYBOT-ICE, the price of unrefined sugar for delivery in March stood at 24.30 US cents a pound compared with 29.06 cents for the October contract a week earlier.
On LIFFE, the price of a tonne of white sugar for December plummeted to ?623.30 from ?708 the previous week.
Coffee commodity: Coffee prices fell further. By Friday on NYBOT-ICE, Arabica for delivery in December dropped to 239 US cents a pound from 262 US cents the previous week.
On LIFFE, Robusta for November declined to $2,019 a tonne from $2,043 a tonne.
Rubber commodity: Rubber prices dropped as traders remained on the sidelines in anticipation of further losses ahead owing to a weak demand outlook.
The Malaysian Rubber Board's benchmark SMR20 slipped to 443.65 US cents a kilo from 462.75 US cents the previous week.
Gold commodity: Gold prices slumped to below $1,700 an ounce, despite the precious metal's status as a safe-haven investment in times of economic turbulence.
Gold had hit a record high of $1,921.15 an ounce on September 6.
London Bullion Market, gold plunged to $1,689 an ounce from $1,794 the previous week.
Silver commodity: Silver dived to $32.90 an ounce from $39.97.
On the London Platinum and Palladium Market, platinum retreated to $1,651 an ounce from $1,798.
Palladium decreased to $659 an ounce from $732.
Oil commodity: World oil prices slumped on fears of a fresh global economic downturn which would slash global demand for energy, with New York crude diving by more than five dollars on Thursday alone.
"Oil prices have been on a very gradual downward trend since April and have been brought down by the continuous poor economic reports, from the US, eurozone and China," said Nick Campbell, an analyst at energy consultancy Inenco.
"This week, the spotlight has been on the US Federal Reserve and the G20 meeting to provide confidence to the market, and there were expectations of further monetary policy from the US and eurozone to boost economic growth.
"Unfortunately the announcements from both parties have had the opposite effect," he added.
The US Federal Reserve on Wednesday unveiled a $400-billion stimulus plan to reduce long-term interest rates but investors chose to focus on its warning about the outlook for the world's biggest economy and oil consumer.
The Fed painted a grim picture of the economy, strapped with slow growth, high unemployment and a depressed housing market.
"There are significant downside risks to the economic outlook, including strains in global financial markets," the central bank said.
The United States has yet to fully recover from the 2009 recession, which was the country's worst since the Great Depression in the 1930s.
By late Friday on London's Intercontinental Exchange, Brent North Sea crude for delivery in November retreated to $104.60 a barrel from $113.43 a week earlier.
On the New York Mercantile Exchange, West Texas Intermediate (WTI) or light sweet crude for November, dropped to $80 a barrel from $88.11.
Copper commodity: Copper prices tumbled to a 13-month low under $8,000 an ounce, extending their run lower since reaching record highs in February, as weaker Chinese manufacturing data added to global demand concerns.
Aluminium, lead, tin and zinc also hit their lowest levels for around a year, while nickel struck a near two-year trough.
On the London Metal Exchange, copper for delivery in three months struck $7,115 a tonne -- the lowest level since August, 2010.
Copper prices have slumped 30 percent since hitting a record-high $10,190 a tonne on February 15, when markets were extremely optimistic about economic recovery.
However in recent months the outlook for growth has turned extremely sour and was further dented on Thursday when data showed that manufacturing activity in commodities-hungry China contracted for a third month running in September.
The HSBC preliminary purchasing managers' index (PMI) fell to a two-month low of 49.4 in September from a final reading of 49.9 in August, the British banking giant said in a statement.
A reading above 50 indicates the sector is expanding, while a reading below 50 suggests contraction.
"On the back of the plentiful bearish news and the further rise of risk aversion, it is not surprising that metal prices have come under strong pressure," Commerzbank analyst Daniel Briesemann said on Thursday.
By late Friday on the London Metal Exchange (LME), copper for delivery in three months dived to $7,488 a tonne from $8,793 the previous week.
Three-month aluminium slid to $2,241 a tonne from $2,381.
Three-month lead dropped to $2,046 a tonne from $2,404.
Three-month tin decreased to $19,700 a tonne from $23,450.
Three-month zinc retreated to $1,968 a tonne from $2,198.
Three-month nickel fell to $18,355 a tonne from $21,700.
Cocoa commodity: Prices hit two-year lows in London, at ?1,745 a tonne.
By Friday on LIFFE, London's futures exchange, cocoa for delivery in December dropped to ?1,760 a tonne from ?1,813 the previous week.
In New York on the NYBOT-ICE, cocoa for December slid to $2,669 a tonne from $2,796.
Sugar commodities: sugar prices, which have recently retreated on expectations that the 2011/12 season would see the first major surplus in three years, sharply accelerated losses.
"The macro picture has also caught up with the sugar market and it could be argued that the debt problem in Europe affecting bank capital and potential exposure, and the worsening economic prospects in the US are also a factor," said Sucden brokers analyst Nick Penney.
"All in all, a negative market in a negative economic backdrop. The fall has been swift as speculators and funds go into no risk mode."
By Friday on NYBOT-ICE, the price of unrefined sugar for delivery in March stood at 24.30 US cents a pound compared with 29.06 cents for the October contract a week earlier.
On LIFFE, the price of a tonne of white sugar for December plummeted to ?623.30 from ?708 the previous week.
Coffee commodity: Coffee prices fell further. By Friday on NYBOT-ICE, Arabica for delivery in December dropped to 239 US cents a pound from 262 US cents the previous week.
On LIFFE, Robusta for November declined to $2,019 a tonne from $2,043 a tonne.
Rubber commodity: Rubber prices dropped as traders remained on the sidelines in anticipation of further losses ahead owing to a weak demand outlook.
The Malaysian Rubber Board's benchmark SMR20 slipped to 443.65 US cents a kilo from 462.75 US cents the previous week.
Gold commodity: Gold prices slumped to below $1,700 an ounce, despite the precious metal's status as a safe-haven investment in times of economic turbulence.
Gold had hit a record high of $1,921.15 an ounce on September 6.
London Bullion Market, gold plunged to $1,689 an ounce from $1,794 the previous week.
Silver commodity: Silver dived to $32.90 an ounce from $39.97.
On the London Platinum and Palladium Market, platinum retreated to $1,651 an ounce from $1,798.
Palladium decreased to $659 an ounce from $732.
Oil commodity: World oil prices slumped on fears of a fresh global economic downturn which would slash global demand for energy, with New York crude diving by more than five dollars on Thursday alone.
"Oil prices have been on a very gradual downward trend since April and have been brought down by the continuous poor economic reports, from the US, eurozone and China," said Nick Campbell, an analyst at energy consultancy Inenco.
"This week, the spotlight has been on the US Federal Reserve and the G20 meeting to provide confidence to the market, and there were expectations of further monetary policy from the US and eurozone to boost economic growth.
"Unfortunately the announcements from both parties have had the opposite effect," he added.
The US Federal Reserve on Wednesday unveiled a $400-billion stimulus plan to reduce long-term interest rates but investors chose to focus on its warning about the outlook for the world's biggest economy and oil consumer.
The Fed painted a grim picture of the economy, strapped with slow growth, high unemployment and a depressed housing market.
"There are significant downside risks to the economic outlook, including strains in global financial markets," the central bank said.
The United States has yet to fully recover from the 2009 recession, which was the country's worst since the Great Depression in the 1930s.
By late Friday on London's Intercontinental Exchange, Brent North Sea crude for delivery in November retreated to $104.60 a barrel from $113.43 a week earlier.
On the New York Mercantile Exchange, West Texas Intermediate (WTI) or light sweet crude for November, dropped to $80 a barrel from $88.11.
Copper commodity: Copper prices tumbled to a 13-month low under $8,000 an ounce, extending their run lower since reaching record highs in February, as weaker Chinese manufacturing data added to global demand concerns.
Aluminium, lead, tin and zinc also hit their lowest levels for around a year, while nickel struck a near two-year trough.
On the London Metal Exchange, copper for delivery in three months struck $7,115 a tonne -- the lowest level since August, 2010.
Copper prices have slumped 30 percent since hitting a record-high $10,190 a tonne on February 15, when markets were extremely optimistic about economic recovery.
However in recent months the outlook for growth has turned extremely sour and was further dented on Thursday when data showed that manufacturing activity in commodities-hungry China contracted for a third month running in September.
The HSBC preliminary purchasing managers' index (PMI) fell to a two-month low of 49.4 in September from a final reading of 49.9 in August, the British banking giant said in a statement.
A reading above 50 indicates the sector is expanding, while a reading below 50 suggests contraction.
"On the back of the plentiful bearish news and the further rise of risk aversion, it is not surprising that metal prices have come under strong pressure," Commerzbank analyst Daniel Briesemann said on Thursday.
By late Friday on the London Metal Exchange (LME), copper for delivery in three months dived to $7,488 a tonne from $8,793 the previous week.
Three-month aluminium slid to $2,241 a tonne from $2,381.
Three-month lead dropped to $2,046 a tonne from $2,404.
Three-month tin decreased to $19,700 a tonne from $23,450.
Three-month zinc retreated to $1,968 a tonne from $2,198.
Three-month nickel fell to $18,355 a tonne from $21,700.
Cocoa commodity: Prices hit two-year lows in London, at ?1,745 a tonne.
By Friday on LIFFE, London's futures exchange, cocoa for delivery in December dropped to ?1,760 a tonne from ?1,813 the previous week.
In New York on the NYBOT-ICE, cocoa for December slid to $2,669 a tonne from $2,796.
Review Prices Fast Moving Week Commodity
Written By mine on Senin, 27 Desember 2010 | 14.31
Fast moving week for commodities prices, copper rocketed to a new record high, coffee and sugar hit impressive multi-year peaks and crude oil struck two-year pinnacles before the Christmas break.
Copper was spurred higher by Chinese demand and a strike in key producer Chile, while coffee and sugar were supported by keen demand and scarce supplies.
Oil prices meanwhile vaulted to levels last seen in October 2008 on the back of freezing weather in Europe and North America, the weak dollar and positive US economic indicators.
And the cocoa market extended gains as traders worried about escalating violence in top producer Ivory Coast in the wake of disputed presidential elections.
Some markets experienced holiday-shortened trade last week owing to a Christmas Eve holiday on Friday.
BASE METALS: Copper prices surged to a record $9,392 per tonne on Tuesday on the back of upbeat Chinese data and after a key Chilean mine halted its exports.
?Copper has continued to rise this morning on supportive Chinese trade data and news that Collahuasi had called force majeure on concentrate shipments,? said Barclays Capital analysts in a note to clients.
?The full and final data set for Chinese base metals November trade data paints an encouraging picture. Imports of all the metals increased?apart from nickel?with the rise in copper and tin particularly noteworthy.?
Chile?s massive Collahuasi copper mine on Monday suspended exports following a ship-loading crane accident that killed three workers at the port where its concentrate is shipped.
?Collahuasi has declared a force majeure on its contracts of copper concentrate,? said mine spokeswoman Bernardita Fernandez, using the phrase for a contract suspension due to circumstances beyond a firm?s control.
The world?s third largest copper mine produces around 3% of global supplies and is located near the city of Iquique, in far northern Chile.
Meanwhile, a mystery buyer has snapped up 90% of the copper on the London Metal Exchange (LME) amid sky-high prices for the industrial metal that is used in plumbing, heating, electrical and telecommunications wiring.
?Dominant long positions are not unusual and the LME has proven processes for dealing with these positions,? said Diarmuid O?Hegarty, LME head of regulation and compliance.
He added that the LME had ?strict rules? that would require traders to lend back to the market at pre-agreed rates.
By late Friday on the LME, copper for delivery in three months rallied to $9,339.50 a tonne from $9,081 a week earlier.
Three-month aluminium climbed to $2,446 a tonne from $2,337.25.
Three-month lead grew to $2,448 a tonne from $2,426.
Three-month tin increased to $26,650 a tonne from $26,075 a week earlier.
Three-month zinc increased to $2,314 a tonne from $2,280.
Three-month nickel slid to $23,900 a tonne from $24,900.
OIL: Prices hit a 26-month peak, lifted by freezing weather and upbeat US data, before running into modest profit-taking before the festive break.
London Brent North Sea crude for February delivery soared to $94.74 per barrel?the highest point since October 2008 - while New York?s light sweet crude struck a similar peak at $91.63.
?As we are approaching the year-end, the recent rally in crude oil prices shows the underlying strength in the oil market,? said Sucden analyst Myrto Sokou.
?Overall, it seems that there is a strong outlook for the oil market, as crude oil prices continue strongly their upside momentum and hold strong support above the $90-per-barrel area.?
Last week, icy weather across Europe and northeastern US states?which forecasters said would last until the end of the year?lifted prices because it boosts demand for heating oil.
The market also spiked higher following Wednesday?s news of plunging US crude reserves as demand in the world?s biggest oil-consumer rises.
US crude stocks slumped 5.3mn barrels in the week to December 17, more than double market expectations for a drop of 2.3mn barrels, reflecting strengthening demand in the world?s biggest economy.
?Cold weather in Europe has increased demand for distillate fuel, and we have seen good demand here in the US too, due to cold weather,? said Andy Lipow of Lipow Oil Associates.
?World oil demand is increasing and in the short term the cold weather is contributing to that,? he said.
A slew of economic data released on Thursday in the US showed a stabilisation of jobless claims, an improvement in the housing market and a rise in consumer spending, further bolstering trade.
The market was also pushed higher by impressive oil consumption data from China.
Prices found further support from the weaker dollar, which makes dollar-priced oil cheaper for buyers using stronger currencies. In turn, that tends to stimulate demand and prices.
By Friday afternoon on London?s Intercontinental Exchange, Brent North Sea crude for delivery in February soared to $93.46 a barrel compared with $91.78 a week earlier.
By Thursday on the New York Mercantile Exchange, Texas light sweet crude for February had jumped to $91.51 a barrel, from $88.01 for the now-expired January contract on Friday of the previous week.
COCOA: The market rallied as a result of ongoing violence in Ivory Coast.
West African leaders held emergency talks on Friday on the crisis in Ivory Coast with the US searching for more UN troops and France offering Laurent Gbagbo a final chance to step aside.
The summit came after a UN body demanded a halt to ?atrocities? in Ivory Coast and the Central Bank of West African States blocked Gbagbo?s access to finances, putting a further squeeze on his bid to remain in power.
Much of the world, including the UN, has recognised Gbagbo?s rival Alassane Ouattara as the winner of last month?s elections, but the strongman has refused to budge in the face of mounting calls for him to leave.
?The political crisis in Ivory Coast is escalating,? said commodity analysts at Commerzbank.
?The outbreaks of violence in the past few days are fuelling fears of another civil war.
?This uncertainty in the world?s largest cocoa producer has already resulted in interruptions to cocoa shipments. We therefore expect cocoa prices to climb.?
By Friday on LIFFE, London?s futures exchange, cocoa for March rose to ?2,022 a tonne from ?1,975 a week earlier.
By Thursday on the New York Board of Trade (NYBOT), cocoa for delivery in March climbed to $3,020 a tonne from $2,965.
PRECIOUS METALS: Gold crept towards its recent record high pinnacle.
?The price of gold should continue to be supported by demand for a safe haven from other potential economic and financial shocks,? said Capital Economics analyst Julian Jessop.
?Front-runners include the risks of a US-China trade war and some form of EMU break-up.
Gold had soared to a record high of $1,431.25 an ounce earlier this month thanks to fears over the eurozone debt and deficit crisis.
By late Friday on the London Bullion Market, gold advanced to $1,380.50 an ounce at the late fixing from $1,368.50 a week earlier.
Silver rose to $29.07 an ounce from $28.78.
On the London Platinum and Palladium Market, platinum increased to $1,725 an ounce from $1,696. Palladium gained to $764 an ounce from $738.
COFFEE: Coffee soared to a fresh 13-year high at 242.25? per pound in New York, driven by concerns over stretched global supplies.
?The scarcity of Arabica beans and investor interest in coffee are still driving prices up,? added Commerzbank analysts.
By Friday on NYBOT, Arabica for delivery March increased to 235.90? a pound from 219.35? the previous week.
On LIFFE, Robusta for March leapt to $1,998 a tonne from $1,974.
GRAINS AND SOYA: Soya, maize and wheat prices rose across the board.
By Thursday on the Chicago Board of Trade, March-dated soyabean meal?used in animal feed?climbed to $13.60 a bushel from $13.10 on Friday of the previous week.
Maize for delivery in March gained to $6.14 a bushel from $5.96.
Wheat for March increased to $7.83 from $7.56.
SUGAR: Sugar futures zoomed to their highest level for 30 years, on the back of rampant demand from Asia and fears about weak global supplies.
Sugar rocketed as high as 34.06? per pound in New York on Thursday, reaching a level last seen in January 1981.
By Thursday on NYBOT, the price of unrefined sugar for delivery in March advanced to 33.98? a pound compared with 31.56? for the March contract on Friday of the previous week.
By Friday, On LIFFE, the price of a tonne of white sugar for March jumped to ?820 from ?778.90 a week earlier.
RUBBER: Malaysian rubber prices rallied to another historic high, extending its recent record-breaking run, on the back of rising demand and tight supplies, dealers said.
The Malaysian Rubber Board?s benchmark SMR20 rose to 487.55? per kilo, from 457.50? last week.
Copper was spurred higher by Chinese demand and a strike in key producer Chile, while coffee and sugar were supported by keen demand and scarce supplies.
Oil prices meanwhile vaulted to levels last seen in October 2008 on the back of freezing weather in Europe and North America, the weak dollar and positive US economic indicators.
And the cocoa market extended gains as traders worried about escalating violence in top producer Ivory Coast in the wake of disputed presidential elections.
Some markets experienced holiday-shortened trade last week owing to a Christmas Eve holiday on Friday.
BASE METALS: Copper prices surged to a record $9,392 per tonne on Tuesday on the back of upbeat Chinese data and after a key Chilean mine halted its exports.
?Copper has continued to rise this morning on supportive Chinese trade data and news that Collahuasi had called force majeure on concentrate shipments,? said Barclays Capital analysts in a note to clients.
?The full and final data set for Chinese base metals November trade data paints an encouraging picture. Imports of all the metals increased?apart from nickel?with the rise in copper and tin particularly noteworthy.?
Chile?s massive Collahuasi copper mine on Monday suspended exports following a ship-loading crane accident that killed three workers at the port where its concentrate is shipped.
?Collahuasi has declared a force majeure on its contracts of copper concentrate,? said mine spokeswoman Bernardita Fernandez, using the phrase for a contract suspension due to circumstances beyond a firm?s control.
The world?s third largest copper mine produces around 3% of global supplies and is located near the city of Iquique, in far northern Chile.
Meanwhile, a mystery buyer has snapped up 90% of the copper on the London Metal Exchange (LME) amid sky-high prices for the industrial metal that is used in plumbing, heating, electrical and telecommunications wiring.
?Dominant long positions are not unusual and the LME has proven processes for dealing with these positions,? said Diarmuid O?Hegarty, LME head of regulation and compliance.
He added that the LME had ?strict rules? that would require traders to lend back to the market at pre-agreed rates.
By late Friday on the LME, copper for delivery in three months rallied to $9,339.50 a tonne from $9,081 a week earlier.
Three-month aluminium climbed to $2,446 a tonne from $2,337.25.
Three-month lead grew to $2,448 a tonne from $2,426.
Three-month tin increased to $26,650 a tonne from $26,075 a week earlier.
Three-month zinc increased to $2,314 a tonne from $2,280.
Three-month nickel slid to $23,900 a tonne from $24,900.
OIL: Prices hit a 26-month peak, lifted by freezing weather and upbeat US data, before running into modest profit-taking before the festive break.
London Brent North Sea crude for February delivery soared to $94.74 per barrel?the highest point since October 2008 - while New York?s light sweet crude struck a similar peak at $91.63.
?As we are approaching the year-end, the recent rally in crude oil prices shows the underlying strength in the oil market,? said Sucden analyst Myrto Sokou.
?Overall, it seems that there is a strong outlook for the oil market, as crude oil prices continue strongly their upside momentum and hold strong support above the $90-per-barrel area.?
Last week, icy weather across Europe and northeastern US states?which forecasters said would last until the end of the year?lifted prices because it boosts demand for heating oil.
The market also spiked higher following Wednesday?s news of plunging US crude reserves as demand in the world?s biggest oil-consumer rises.
US crude stocks slumped 5.3mn barrels in the week to December 17, more than double market expectations for a drop of 2.3mn barrels, reflecting strengthening demand in the world?s biggest economy.
?Cold weather in Europe has increased demand for distillate fuel, and we have seen good demand here in the US too, due to cold weather,? said Andy Lipow of Lipow Oil Associates.
?World oil demand is increasing and in the short term the cold weather is contributing to that,? he said.
A slew of economic data released on Thursday in the US showed a stabilisation of jobless claims, an improvement in the housing market and a rise in consumer spending, further bolstering trade.
The market was also pushed higher by impressive oil consumption data from China.
Prices found further support from the weaker dollar, which makes dollar-priced oil cheaper for buyers using stronger currencies. In turn, that tends to stimulate demand and prices.
By Friday afternoon on London?s Intercontinental Exchange, Brent North Sea crude for delivery in February soared to $93.46 a barrel compared with $91.78 a week earlier.
By Thursday on the New York Mercantile Exchange, Texas light sweet crude for February had jumped to $91.51 a barrel, from $88.01 for the now-expired January contract on Friday of the previous week.
COCOA: The market rallied as a result of ongoing violence in Ivory Coast.
West African leaders held emergency talks on Friday on the crisis in Ivory Coast with the US searching for more UN troops and France offering Laurent Gbagbo a final chance to step aside.
The summit came after a UN body demanded a halt to ?atrocities? in Ivory Coast and the Central Bank of West African States blocked Gbagbo?s access to finances, putting a further squeeze on his bid to remain in power.
Much of the world, including the UN, has recognised Gbagbo?s rival Alassane Ouattara as the winner of last month?s elections, but the strongman has refused to budge in the face of mounting calls for him to leave.
?The political crisis in Ivory Coast is escalating,? said commodity analysts at Commerzbank.
?The outbreaks of violence in the past few days are fuelling fears of another civil war.
?This uncertainty in the world?s largest cocoa producer has already resulted in interruptions to cocoa shipments. We therefore expect cocoa prices to climb.?
By Friday on LIFFE, London?s futures exchange, cocoa for March rose to ?2,022 a tonne from ?1,975 a week earlier.
By Thursday on the New York Board of Trade (NYBOT), cocoa for delivery in March climbed to $3,020 a tonne from $2,965.
PRECIOUS METALS: Gold crept towards its recent record high pinnacle.
?The price of gold should continue to be supported by demand for a safe haven from other potential economic and financial shocks,? said Capital Economics analyst Julian Jessop.
?Front-runners include the risks of a US-China trade war and some form of EMU break-up.
Gold had soared to a record high of $1,431.25 an ounce earlier this month thanks to fears over the eurozone debt and deficit crisis.
By late Friday on the London Bullion Market, gold advanced to $1,380.50 an ounce at the late fixing from $1,368.50 a week earlier.
Silver rose to $29.07 an ounce from $28.78.
On the London Platinum and Palladium Market, platinum increased to $1,725 an ounce from $1,696. Palladium gained to $764 an ounce from $738.
COFFEE: Coffee soared to a fresh 13-year high at 242.25? per pound in New York, driven by concerns over stretched global supplies.
?The scarcity of Arabica beans and investor interest in coffee are still driving prices up,? added Commerzbank analysts.
By Friday on NYBOT, Arabica for delivery March increased to 235.90? a pound from 219.35? the previous week.
On LIFFE, Robusta for March leapt to $1,998 a tonne from $1,974.
GRAINS AND SOYA: Soya, maize and wheat prices rose across the board.
By Thursday on the Chicago Board of Trade, March-dated soyabean meal?used in animal feed?climbed to $13.60 a bushel from $13.10 on Friday of the previous week.
Maize for delivery in March gained to $6.14 a bushel from $5.96.
Wheat for March increased to $7.83 from $7.56.
SUGAR: Sugar futures zoomed to their highest level for 30 years, on the back of rampant demand from Asia and fears about weak global supplies.
Sugar rocketed as high as 34.06? per pound in New York on Thursday, reaching a level last seen in January 1981.
By Thursday on NYBOT, the price of unrefined sugar for delivery in March advanced to 33.98? a pound compared with 31.56? for the March contract on Friday of the previous week.
By Friday, On LIFFE, the price of a tonne of white sugar for March jumped to ?820 from ?778.90 a week earlier.
RUBBER: Malaysian rubber prices rallied to another historic high, extending its recent record-breaking run, on the back of rising demand and tight supplies, dealers said.
The Malaysian Rubber Board?s benchmark SMR20 rose to 487.55? per kilo, from 457.50? last week.
New Zealand Commodity Dominate Agribusiness Sector
Written By mine on Sabtu, 18 September 2010 | 17.27
Commodities including corn, wheat, rice, sugar, cocoa, coffee, soy and milk commodity in addition to newly-researched competitive intelligence on leading agribusiness producers, traders and suppliers; in-depth analysis of latest industry developments; and essential industry context on New Zealand's agribusiness service.
For the long-term health of New Zealand's meat producing sector, new export markets will have to be found and developed. Given the GDP expansion in other countries in Asia such as the Philippines, Malaysia, Indonesia, and Thailand, meat consumption is forecast to expand in those places over the medium term as well. Given that New Zealand is involved in free trade agreements with Asia, its proximity and preferential access to these market should give its exporters an advantage when trying to sell their products. The sector will also benefit from free trade agreements with the gulf coast countries, where per capita beef consumption has risen substantially over the last decade."
New Zealand remains a global dairy giant. It is the world's largest exporter of butter and the second largest exporter of cheese and whole milk powder (excluding trade within the EU). In 2011, we expect modest fluid milk production growth of 0.4% y-o-y, as the industry, particularly production on the North Island, has been badly hit by drought, resulting in us predicting output of 16.7mn tonnes. Through to 2014, however, we are forecasting production growth of 8.9%, up to 18mn tonnes. From an already high base, this says much about the industry's efficiency and capacity to exploit rebounding global dairy demand.
Wheat commodity consumption growth to 2014: 20% to 708,000 tonnes. Our forecasts for grains consumption are closely correlated to our outlook for the livestock and dairy sectors with much of the crop consumed as animal feed. Our positive growth forecasts for livestock factor into our forecasts for steady demand growth for grains over the next four years.
Poultry production growth to 2014: 24% to 190,000 tonnes. Increased domestic value-added production has lifted the fortunes and potential profitability of the sector, encouraging more farmers to consider this industry sub-sector.
Beef consumption growth to 2014: 6% to 124,000 tonnes. Beef consumption will continue a declining trend over the last decade as poultry is seen as a healthier alternative. This comes as many governments in developed markets try to mitigate rising obesity rates.
2010 Real GDP Growth: 1.8% (up from -0.1% in 2009; predicted to average 2.5% from 2010 until 2014).
Consumer Price Inflation: 2% year-on-year (y-o-y) in July 2010 (up from 2% y-o-y in July 2009).
New Zealand has a relatively small grains sector which is dwarfed, both in terms of output and economic importance, by the vast dairy and livestock sectors. New Zealand is, in an average year, self-sufficient in corn but has to import small quantities of barley and around half of its wheat needs. Generally, area harvested for grains has fallen slightly over the past decade, but yields have increased overall. Beyond the near term, we expect production to remain fairly stagnant to the end of our forecast period in 2013/14.
Agriculture will continue to be dominated by its global leading dairy sector, whose exports contribute a significant source of revenue to the economy as a whole. As a developed country, consumption growth will be slow across most sectors, with the exception of poultry. Over the forecast period, the industry will see expanding export opportunities, particularly for the livestock sector. However, there are risks that increased environmental compliance costs could make New Zealand livestock more expensive than its export competitors. Nonetheless, the industry, led by the ubiquitous dairy sector, will see moderate production growth over the long term.
For the long-term health of New Zealand's meat producing sector, new export markets will have to be found and developed. Given the GDP expansion in other countries in Asia such as the Philippines, Malaysia, Indonesia, and Thailand, meat consumption is forecast to expand in those places over the medium term as well. Given that New Zealand is involved in free trade agreements with Asia, its proximity and preferential access to these market should give its exporters an advantage when trying to sell their products. The sector will also benefit from free trade agreements with the gulf coast countries, where per capita beef consumption has risen substantially over the last decade."
New Zealand remains a global dairy giant. It is the world's largest exporter of butter and the second largest exporter of cheese and whole milk powder (excluding trade within the EU). In 2011, we expect modest fluid milk production growth of 0.4% y-o-y, as the industry, particularly production on the North Island, has been badly hit by drought, resulting in us predicting output of 16.7mn tonnes. Through to 2014, however, we are forecasting production growth of 8.9%, up to 18mn tonnes. From an already high base, this says much about the industry's efficiency and capacity to exploit rebounding global dairy demand.
Wheat commodity consumption growth to 2014: 20% to 708,000 tonnes. Our forecasts for grains consumption are closely correlated to our outlook for the livestock and dairy sectors with much of the crop consumed as animal feed. Our positive growth forecasts for livestock factor into our forecasts for steady demand growth for grains over the next four years.
Poultry production growth to 2014: 24% to 190,000 tonnes. Increased domestic value-added production has lifted the fortunes and potential profitability of the sector, encouraging more farmers to consider this industry sub-sector.
Beef consumption growth to 2014: 6% to 124,000 tonnes. Beef consumption will continue a declining trend over the last decade as poultry is seen as a healthier alternative. This comes as many governments in developed markets try to mitigate rising obesity rates.
2010 Real GDP Growth: 1.8% (up from -0.1% in 2009; predicted to average 2.5% from 2010 until 2014).
Consumer Price Inflation: 2% year-on-year (y-o-y) in July 2010 (up from 2% y-o-y in July 2009).
New Zealand has a relatively small grains sector which is dwarfed, both in terms of output and economic importance, by the vast dairy and livestock sectors. New Zealand is, in an average year, self-sufficient in corn but has to import small quantities of barley and around half of its wheat needs. Generally, area harvested for grains has fallen slightly over the past decade, but yields have increased overall. Beyond the near term, we expect production to remain fairly stagnant to the end of our forecast period in 2013/14.
Agriculture will continue to be dominated by its global leading dairy sector, whose exports contribute a significant source of revenue to the economy as a whole. As a developed country, consumption growth will be slow across most sectors, with the exception of poultry. Over the forecast period, the industry will see expanding export opportunities, particularly for the livestock sector. However, there are risks that increased environmental compliance costs could make New Zealand livestock more expensive than its export competitors. Nonetheless, the industry, led by the ubiquitous dairy sector, will see moderate production growth over the long term.
