Monthly Review of the Cocoa Market Situation, November 2007

The current review reports on price movements on the international markets for the month of November 2007.  Chart I shows the evolution of the ICCO daily prices in November, in US dollars and SDRs.

Chart II illustrates price movements on the London and New York markets as well as the ICCO daily prices from September to November 2007.  Chart III illustrates the link between New York futures prices and the exchange rate of the US dollar against the pound sterling.  Chart IV shows end-of-month stocks in licensed warehouse in the US and the arbitrage spread between the LIFFE and ICE futures markets.