Anthony Ward’s Ambitious Cocoa-Hoarding Might Manipulate Global Markets

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Delicious ... or evil? Photo: Wiki

Anthony Ward isn't interested in gold, because he's found a more delicious form of currency: chocolate. "By one estimate, he has bought enough to make more than five billion chocolate bars," the Times reports. Executives at Ward's private investment firm, Armajaro, with offices in West Africa to keep an eye on cocoa crops, say he is "unmatched in his knowledge of cocoa."

Oh, how fun! He's just a true chocolate lover, you might think. But, actually, traders are concerned that Ward is trying to single-handedly boost global chocolate prices as a result of hoarding so much of it himself so he can sell it in a squeeze! And he doesn't even like the taste!


Now, traders [in London] are buzzing that Mr. Ward has placed an audacious $1 billion bet in the London market for cocoa futures. This month, he bought 241,100 metric tons of beans, they say.

Rival cocoa traders fear that Ward will buy more cocoa contracts and become the "go-to source" for the commodity. But imagine if that plan doesn't work? He will be left with the sad feeling of defeat, and a ton of candy. Hope chocolate's not his "comfort food."

'Trader’s Cocoa Binge Wraps Up Chocolate Market' [NYT]