A funny thing happened to cocoa beans on their way to market; they--along with some other commodities--have become the latest safe haven for investors.
During Cargill Cocoa & Chocolate's presentation on the global cocoa market, which occurred in eight cities throughout the United States and Canada in late January and early February, Philippe Huet, Cargill's director of cocoa merchandising, pointed out that financial speculators have purchased nearly one million tons of cocoa in recent months. Consequently, farmers wind up selling their crop to non-industry buyers who, depending upon price fluctuation, can hold onto the beans.
Five years of low and stable …
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