Cocoa Butter Stabilizes in Europe as Grinders Boost Processing
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The price of cocoa butter, which gained 65 percent last year, stabilized in Europe in the past two weeks as bean processors began boosting output after a slowdown last year, according to three traders who have direct knowledge of the sales.
The cost of cocoa butter relative to the price of beans, or the so-called butter ratio, was 2.05 to 2.1 times the cocoa futures on the NYSE Liffe exchange, said the traders, who asked not to be identified because they aren’t authorized to speak to the media. The ratio was 2 to 2.1 on Jan. 4.