NY cocoa futures open interest at 12-week low

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

Coffee-Indonesia coffee hits 1st premium since mid-2010

6AKARTA, April 16, 2011 - Indonesian robusta coffee beans were offered at a premium to London futures this week for the first time since June 2010 because of tight supply after rain damaged coffee cherries early this year, traders said on Friday.

The prospect of a relatively poor crop could mean the premium holding for some months, they said.

Sumatra robusta beans Grade 4, 80 defects, were offered at a premium of $20 a tonne to the July contract for shipment in May/June, or $2,499 a tonne on a free-on-board (FOB) basis, in the main growing province of Lampung on Sumatra island, traders said.

Cameroon farmgate cocoa prices fall in April

YAOUNDE, Apr 15, 2011 - Farmgate cocoa prices in Cameroon, the fifth-largest grower, fell as much as 20 percent in some regions in April, with fewer buyers in the hinterlands as the main harvest season tails off, farmers said on Friday.

In the Centre province, the main cocoa-producing region, farmers said beans sold for as little as 1,150 CFA francs ($2.53) per kilogram in April, compared with 1,450 CFA francs the previous month around Bafia.

In Kumba in the South-West province, beans sold for 1,300 CFA francs in April, compared with 1,430 CFA francs in March.

"Buyers are no longer streaming in from Douala, (the country's economic capital), because they are not sure of getting any beans," said Joseph Nde, manager at Cameroon Marketing Commodities (CAMACO) in the South-West region.

"We had to comb all main growing areas to be able to come up with about five tonnes last week," he said.

Cameroon's cocoa season runs from Aug. 1 to July 31, with the main harvest period from October to January/February.

The 2010/2011 main harvest, however, started earlier - around mid-September - and ended in January in the Centre region due to little rainfall and plenty of sunshine.

Cameroon exported about 197,000 tonnes of cocoa beans in the 2009/10 season. Data so far shows the country is on track to export well over 200,000 tonnes this year due to increases in production in the Centre and East regions.

Source : Reuters

Europe cash coffee: heavy Ethiopian trade reported

HAMBURG, April 15, 2011 - Ethiopian arabica traded heavily in Europe's cash coffee market this week as roasters sought supplies at low price differentials following a rise again by New York futures, traders said on Friday.

"Ethiopian Djimmah Grade 5 beans were offered at 58-60 cents under New York contracts this week against 12 cents under for Brazil medium to good bean fine grades," one trader said.

"Industry showed a very big appetite for Ethiopian beans and big volumes were traded."

Cocoa firm after positive demand data; arabicas climb

NEW YORK/LONDON, April 15. 2011 - Cocoa prices rose on Friday, on reports showing that processors had utilized capacity around the world, compensating for interrupted supply from top grower Ivory Coast.

Arabica coffee futures climbed closer toward last month's 34-year peak, and raw sugar bounced after three weak sessions, joining a rally in other other commodities on positive U.S. consumer sentiment and Chinese economic growth data.

NY Cocoa market close review for today, April 15, 2011

* 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

NY coffee ( arabica ) market close review for today, April 15, 2011

* July arabica coffee futures jumped 5.95 cents or 2.1 percent to settle at $2.9110 per lb.
 

* July closed the week up 4.8 percent, its second straight weekly  gain.
 

* Arabica premium over robusta futures soared, with its last trade at  $1.7925 per lb, the highest since at least 2008 when the current Liffe  contract was established.
 

* Market strong on supply concerns as well as chart-based buying as  July got closer to last month's 34-year high at $2,9665 per lb - traders.
 

* "Every coffee growing nation seems to be having some type of coffee  issue. I think it's going to give people a reason to try to test the $3  level in the July coffee very soon." - Hector Galvan, RJO Futures senior  market strategist in Chicago.
 

* Indonesian robusta coffee beans were offered at a premium to London  futures this week for the first time since June 2010 because of tight  supply after rain damaged coffee cherries early this year.

Source : reuters