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Cocoa ETF Rallies Nearly 9% On Supply Concerns
By Devon Layne | January 10, 2012

Related ETFs: NIB / CHOC

A national strike in Nigeria, the fourth-largest producer of cocoa, fueled a rally in cocoa-tracking ETNs on Monday, according to an article on ETF Trends.

The iPath DJ-UBS Cocoa Subindex ETN (NYSEArca: NIB) and the iPath Pure Beta Cocoa ETN (NYSEArca: CHOC) rose 8.5 and 4.4 percent, respectively.

Cocoa futures were up 7 percent—their largest gain since October 2009, according to the article, which cited Bloomberg.

Cocoa prices in 2011 plummeted 31 percent, which ETF Trends’ blogger Tom Lydon said was due to higher output from Ivory Coast.

For Lydon’s full perspective, head over to ETFTrends.com.