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‘The problems of three little people don’t amount to a hill of beans in this crazy world,’ says Rick in the movie Casablanca. But a mountain of cocoa beans could make problems for a lot of little people in the crazy world of commodities trading

24th July, 2010
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Anthony Ward really, really likes chocolate.

So fond is the former motorcycle courier of his daily hit of cocoa beans, condensed milk and cocoa butter, that last week he took a delivery - to specially designated warehouses in (no one seems sure) Holland or Humberside or London or Liverpool - of 241,000 tonnes of cocoa beans.

That’s enough to make 5.3 billion quarter pound chocolate bars; or, if you were so inclined (and fund managers have...

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