NEW YORK, April 17, 2011 - Total open interest in U.S. cocoa futures fell to the lowest level in 12 weeks on Thursday, according to ICE Futures U.S. data on Friday.
Open interest in cocoa <0#CC:> amounted to 153,591 lots, down 3,121 lots from the day before and the lowest since Jan. 25 as the key July cocoa futures closed up nearly 2 percent at $3,127 per tonne.
Cocoa futures saw open interest steadily increase after the disputed presidential election in top grower Ivory Coast on Nov. 23. And it rose even more as the political crisis there deepened and became violent, spurring an export ban on Jan. 23 and lifting the market to a 32-year high at $3,775 per tonne on March 4 on supply concerns.
On Thursday, Ivory Coast's President Alassane Ouattara formally lifted a nearly three-month ban on cocoa and coffee exports, his television channel said.
Source : reuters
