New York, March 21, 2011-- Cocoa futures rebounded Monday after tumbling last week to a 2-month low on modest short-covering as the trade mulled whether the simmering conflict in top producer Ivory Coast will be resolved.
* Key May cocoa futures climbed $62 to finish at $3,189 per tonne.
* On Friday, the contract dropped $155 or by 4.72 percent to close at $3,127 per tonne, the lowest settlement since Jan. 20, according to Thomson Reuters data.
* Thousands of people fled the capital of top cocoa producer Ivory Coast due to fighting caused by the bitter power struggle between incumbent Laurent Gbagbo and rival Alassane Ouattara.
* Market recovers on short-covering while talk circulated in the cocoa ring about possible ways to resolve the fighting in top producer Ivory Coast.
* Cocoa volume stood around 15,800 lots, some 6 percent below the 30-day norm, Thomson Reuters preliminary data showed. *****
