… he blends right in to the sea of trader jackets, you know?

As prices soar, some cocoa traders call shenanigans, and are threatening to bail out of the London market and take their biznezz to the ICE instead. Via FT Alphaville:

Soaring prices for cocoa have sparked allegations of manipulation in the London [NYSE Liffe] market from a group of European processors and traders who are threatening to turn to alternative venues for their hedging needs, the FT says.

They claim the US markets, by being more transparent and regulated by the Commodity Futures Trading Commission, are likely to be less manipulated by traders who are coocoo to puff up cocoa prices. Liffe has acknowledged the concerns, and says they’re going to start asking open position holders about their intentions, e.g., in particular, if they are controlling enough cocoa to construct a full-scale chocolate replica of the Tower of London.

In other commodity news, the price of white sugar is at a four-month high, with the US massively increasing its import quota. I feel like I’m writing for This Is Why You’re Fat.