createCornering the market on Cocoa?
I wonder what the life span on cocoa is before it goes bad. Anthony Ward, a British financer, just bought 241,000 tons of cocoa; which is the equivalent to all the cocoa in Europe. It seems like he is intending to make the price of cocoa rise since he owns such a large share of it, and thereby earning a return on his investment.
I found this here: Chocolate more costly after £658 million cocoa purchase
What is going to do if doesn’t sell that much cocoa? That is why I wonder how long cocoa is good for. I guess that even if the price raises that there are people out there who will see a payday lender just to get the chocolate they want.
It is looking like cocoa is just like silver. Since Mr. Ward attempted to corner the cocoa market by buying enough to make 15 billion Hershey’s milk-chocolate bars, the price has dropped 26%. Whoops! the Hunt brothers must be enjoying a hershey bar in Mr. Ward’s honor. That is if they can afford one.
Here is the latest report from the wall street journal. Let’s hope chocolate mousse become as cheap as it is good.
Cocoa is a durable sort of stuff so one doesn’t has to worry much for preserving it. And there is lot of cocoa in the world so not necessarily the prices would rise but he may sell it in the preferred price to get good returns.
You ask a good question. Dried cocoa beans have a shelf life of several years which is allows for the commodities market to exist. I can’t say if Anthony Ward’s efforts will be successful, but as someone who loves to cook with (and consume) chocolate I am hoping that his gamble goes the way of the Hunt brothers and backfires.