Monthly Review of the Cocoa Market Situation, February 2008

The current review of the cocoa market situation reports on price movements on the international markets during  the month of February 2008.  Chart I illustrates price movements on the London (LIFFE) and New York (ICE Futures U.S.) markets in February.

Chart II shows the evolution of the ICCO daily prices denominated in U.S. dollars and SDRs for the period from December 2007 to February 2008.  Chart III illustrates the arbitrage spread between the New York and London futures markets.