NYSE Liffe Cocoa Delivery Against March Futures Was 37,350 Tons

Cocoa delivered against the expired March futures contract on NYSE Liffe came to 37,350 metric tons, with most of the beans coming from leading grower Ivory Coast, according to data on the exchange’s website.

Ivorian beans accounted for 21,760 tons of the delivery, NYSE Liffe said on its website today. Cocoa from Sierra Leone came to 5,620 tons, while beans from Nigeria, the world’s fourth-biggest producer, totaled 3,690 tons. Newedge UK Financial Ltd. was the sole buyer, according to the data.

Newedge was also the seller of 11,790 tons, according to exchange data. Brokers act on behalf of clients including trading houses, consumers and producers to buy or sell commodities through the exchange. ABN AMRO Clearing Bank NV delivered 10,170 tons, Jefferies Bache Ltd. 12,280 tons and Sucden Financial Ltd. of 3,110 tons, the data showed.

The March futures expired on March 14 at 1,888 pounds ($3,135) a ton, which was a 10-pound premium to the May contract, bourse data on Bloomberg showed. The spread was at a discount of 4 pounds a day before the expiry. A market structure in which earlier-dated contracts are priced higher than later ones is known as backwardation and may signal limited supplies.

Global cocoa supplies will be 115,000 tons smaller than demand in the 2013-14 season that started in October, estimates the London-based International Cocoa Organization. That follows a shortage of 174,000 tons a year earlier. Bean deliveries to ports in Ivory Coast were 12 percent higher from Oct. 1 through March 9, according to data on website of KnowledgeCharts, unit of Commodities Risk Analysis in Bethlehem, Pennsylvania.

This delivery compares with 72,350 tons in March last year and with 74,590 tons in December, exchange data showed.

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