The Man Who Just Bought 7 Percent of the World’s Cocoa

Anthony Ward, founder and CEO of Armajaro who just took delivery of all that cocoa, gave an interview in January that give some insight into why he bought so much cocoa. He is clearly betting on future shortages and hopes to cash in on the likely profits.

On the other hand there are voices that claim Anthony Ward ended holding the bag (or better over 3 million bags of cocoa) after a deal went wrong. Globe and Mail author Paul Waldie claims that Ward ended up on the “wrong side of a private hedging arrangement with Swiss chocolate-maker Barry Callebaut AG.” On Monday, news surfaced that almost half of the cocoa in question had been passed on to Barry Callebaut. Since then, the London price of cocoa has dropped by almost 6 percent.

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One thought on “The Man Who Just Bought 7 Percent of the World’s Cocoa

  1. godmode

    It was clear counter-propaganda would start soon. Everyone on the opposite side of Armajaros trade has an obvious interest in raising their voices and claiming it wasnt them who have been busted, but actually Mr.Ward.

    Its all psychology in the markets, and now it seems the hunted are trying to describe themselves as the actual hunters.

    Im pretty sure that move wont work out well, good luck trading against Armajaro guys…