Cocoa Futures Prices

Cocoa futures prices on ICE Futures strengthened in late trade Friday despite earlier(7/02). The rising price of cocoa terganjal cacao exports decline in Cameroon.

Cameroon's cocoa exports, the country's largest producer of cocoa into 5th in the world, dropped by almost half in January triggered hoarding crops by farmersbecause of the wait for price rises, the Government said on Thursday.

Exports dropped to 21564 tons in January, down from 38748 34731 in December and in November, according to the National Cocoa and Coffee Board (NCCB).

"This export Decline in January 2016 compared to the previous month due to lowercommodity prices. Some organizations prefer to save a portion of their harvest to sellwhen prices go up, "said the NCCB.

At the end of the trading day above the price of cocoa futures contract May 2016which is observed most active contract closed with registered an increase. The commodity prices closed rose by 38 percent in dollar or 1.32 position 2918 dollars per tonne.

We estimate that the price of cocoa futures for trading next will move in a tendencystrengthened by the presence of worries still estimates production barriers in cocoaproducers countries.

Cocoa prices further to trade futures on the ICE Futures New York can potentially test the resistance level at 2970 dollar position. If the resistance level is successfully penetrated the next level was 3020 dollars. While the level of support that would be tested if there is a correction going on at 2870 2820 dollar and dollar.