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COCOA FUTURES WERE under pressure in April as trade and speculative selling took their toll. At mid-month, cocoa futures had slipped to their lowest level since 14 March, with the benchmark July contract on LIFFE touching UK[pounds sterling]874 a tonne on 13th before closing the day's trading at UK[pounds sterling]875.
May finished at UK[pounds sterling]878 a tonne. London cocoa futures made little progress over the next few days. By close on 19th, July stood at UK[pounds sterling]874 a …