Mystery Trader Buys All of Europe's Cocoa (5 Titanics-worth!)

[Facial_King]

This is sort of disturbing...

http://www.telegraph.co.uk/finance/markets/7895242/Mystery-trader-buys-all-Europes-cocoa.html

Excerpt:

It is unclear which person, or group of traders, was behind the deal, but it was the largest single cocoa trade for 14 years.

The cocoa beans, which are sitting in warehouses either in The Netherlands, Hamburg, or closer to home in London, Liverpool or Humberside is equivalent to the entire supply of the commodity in Europe, and would fill more than five Titanics. They are worth £658 million.

Analysts said it was very unlikely that a chocolate company, such as Nestle or Kraft, or even their suppliers, would buy such a huge order in one go and that is was probable that one or a number of speculators, possibly hedge funds, had attempted to corner the market. By doing this, they would have control of the entire supply in Europe, forcing the price yet higher.

 

[tunsty]

mmmmmmmmmm.. Chocolate

 

[StanScratch]

Question, is this the good type of chocolate, or the Americanized shit that's basically 75 percent sugar?

 

[GregCentauro]

Kirstie Alley is hungry. As long as she doesn't buy my beer... :dunno:

 

[Supafly]

Just read an article about this, there seems to be a group of some 16 persons who tries to manipulate and then capitalize on the high-flying raw cocoa price.

Well, if they base this on selling the stuff alter for more cash, they might hurt themselves, as I believe prices won't stay up so long.

But let's see what happens next.

 

[sproing99]

The hunt brothers tried to corner the world market in silver back in the '70s with predictably disasterous results. Mind you, I made a few quid out of it back in the day

http://en.wikipedia.org/wiki/Nelson_Bunker_Hunt

 

[D-rock]

Maybe it's part of a 007 villain’s plot.

If I was going to corner the market in something I would make what I cornered a product that everybody needs and will get almost no matter what anyhow. People holding off on buying chocolate or silver is one thing, but if somebody cornered the market on toilet paper they would really have the world by the balls. :1orglaugh

 

[Ace Bandage]

It was me. :o I'm making a giant Cadbury Egg®. When the apocalypse is upon us, I want to be prepared.

 

[STDiva]

It was me. :o I'm making a giant Cadbury Egg®. When the apocalypse is upon us, I want to be prepared.

It doesn't MATTER what you're making.

 

[LukeEl]

I heard it was this guy, he's not just swiping hamburgers anymore.

 

[bustybbwlover]

Question, is this the good type of Chocolate, or the Americanized shit that's basically 75 percent sugar?

heh...avoid buying from hersheys and you can fix that problem maybe this mystery trader plans to make Chocolate for all and distribute it for free? more like they plan to drive up the price and then sell it off to the Chocolate making companies at the jacked up price tho