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Traders bet on further rise in prices of cocoa

Published Mon, May 4, 2015 · 09:50 PM
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Chicago

SPECULATORS are adding to bullish cocoa wagers at the fastest pace in two years as dry weather threatens crops in parts of West Africa, the source of 70 per cent of global supply.

About a fifth of the growing regions in Ghana, the top producer after Ivory Coast, got half the normal rainfall in the past 45 days, according to MDA Weather Services. Showers have also been sporadic in Nigeria, the region's next biggest grower.

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