London March cocoa expiry sees 120,120 tonnes tendered

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LONDON, March 17 (Reuters) – A total of 120,120 tonnes of cocoa was tendered against the ICE March London cocoa contract, exchange data showed on Friday.

The delivery against the March contract, which expired on Thursday, was mostly made up of 90,450 tonnes of cocoa from Cameroon, 16,580 tonnes from Nigeria and 8,860 tonnes from Ivory Coast.

Smaller volumes of cocoa from other origins, including Liberia, Guinea and Togo, were also tendered against the contract.

The buyers were Societe Generale International Limited (61,770 tonnes) and ADM Investor Services (58,350 tonnes).

The sellers were ABN AMRO Clearing Bank N.V.(62,930 tonnes), BNP Paribas SA (20,730 tonnes), Societe Generale International Limited (18,190 tonnes), Sucden Financial Limited (8,290 tonnes), J.P. Morgan Securities PLC (8,000 tonnes), INTL FCStone Ltd (1,480 tonnes) and INTL FCStone Financial Inc (500 tonnes). (Reporting by Nigel Hunt, editing by Louise Heavens)

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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