Over the past few years the cocoa market has had to modify how it operates. Continued low prices, fewer companies trading, and both the perceived and real element of del credere risks have brought about the change. Those that remain have had to return to the fundamentals of their business - knowing the needs of their clients and above all, knowing the commodity.

This affects everyone directly and indirectly involved in cocoa. In the past, exporters could rely on dealers sorting out some of their problems, and the factories off-loaded much of the risk of delivery onto the dealer. Current trading conditions make this more difficult.

People outside this chain now have larger roles in cocoa than in the past, in particular, the banks, but also the shipping companies and the warehouses. All those in the chain of trade, from the exporter, dealer, and broker through the factory must improve not only their understanding of the market but of the difficulties faced by others in the commodity.

The new edition has been thoroughly revised and updated. It reflects changes such as the effects of trade liberalization in cocoa, the use of vegetable fats in chocolate manufacture, and the increase in bulk cocoa. It provides the details of the new LIFFE contract, and the upcoming CAL and AFCC contracts.

The International Cocoa Trade helps all those involved in the industry. It supplies information about the cocoa trade and creates a better understanding about the industry as a whole. Starting with the history of European and North American development of cocoa, the book covers agronomics and marketing, actuals and futures markets, contracts, supply and demand, quality, and processing.

This is a thoroughly updated and revised edition of a best selling title. It has been written to help those involved in the industry by accessing information about the trade and creating a better understanding of the markets as a whole. The book covers: history and development, agronomics and marketing, actual and futures markets, and their contracts together with the product's supply and demand, its quality and lastly its processing.

The International Cocoa Trade helps all those involved in the industry. It supplies information about the cocoa trade and creates a better understanding about the industry as a whole. The new edition has been thoroughly revised and updated. It reflects changes such as the effects of trade liberalization in cocoa, the use of vegetable fats in chocolate manufacture, and the increase in bulk cocoa. It provides the details of the new LIFFE contract, and the upcoming CAL and AFCC contracts.