Frederic, I read in the DR1 daily news that cocoa revenues increased significantly over the last year mainly due to the doubling of the open market price of cocoa. Conversely, the year beofre that, cocoa prices fell by about 40% and the revenues must have suffered accordingly (i am ignoring currency translation). Are the growers aware that they can hedge the risks associated with price fluctuations in the futures markets? Do you know to what extent, if any, they employ such hedging?
thanks, mondongo
thanks, mondongo