On April 3, the price of cocoa futures for May delivery in London, England, was more than 500 US dollars per ton lower than the price of New York futures. As New York cocoa prices rose 5.8% intraday in May, the room for arbitrage expanded. Meanwhile, the London Cocoa Contract fell 4.9% in the same month.

On April 3, the price of cocoa futures for May delivery in London, England, was more than 500 US dollars per ton lower than the price of New York futures. As New York cocoa prices rose 5.8% intraday in May, the room for arbitrage expanded. Meanwhile, the London Cocoa Contract fell 4.9% in the same month.