* Key July cocoa futures closed up $30 at $3,157 per tonne, while May surged $114, or 3.6 percent, to finish at $3,239 per tonne.
* July closed the week up 5.8 percent, its biggest weekly gain in 13 weeks.
* May closed at an $82 premium to July, the highest for the spot contract since February 2009, from a $2 discount Thursday.
* Rally in May in light volume of just over 500 lots as investors got caught short on first notice day - traders.
* Market strong on positive grind data in Europe, North American and Malaysia - traders.
* Technical buying also lifted prices as July remained above the 200-day moving average and nudged above the 100-day moving average at $3,169 - traders.
* Cocoa grindings in Malaysia, Asia's largest grinder, rose 10.8 percent in the first quarter of 2011 from a year before.
* The International Monetary Fund is exploring ways it can be of help to Ivory Coast's new government to stabilize the economy.
Source : reuters
