(Bloomberg) -- Cocoa rose to a two-week high in New York as a rally in the British pound spurred buying in London and a smaller crop in Indonesia fueled speculation that production will fall short of rising demand.
A metric ton of cocoa in New York is 9 percent cheaper than on London's Euronext.liffe exchange, where the commodity is traded in pounds. The U.K. currency has jumped 15 percent against the dollar in the past year. Cocoa also got a boost from speculation demand may be smaller than expected.
Read more at Bloomberg Commodities News
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