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Cocoa ends

lower

NEW YORK: CSCE cocoa futures ended moderately weaker Tuesday, as sharp gains on the U.S. dollar prompted traders to buy London futures against New York, market sources said.

New York cocoa prices moved lower early in the session following news the major central banks had intervened to shore up the dollar's position in the world currency market.

The dollar gained a hefty two cents versus the sterling after the leading banks stepped in.

Most active December fell $12 a tonne, to $1,318, after ranging from $1,316 to $1,330. Nearby September slid $9, to $1,284. London's December contract rose 9 stg, to 934 per tonne.

The day's turnover was estimated at 8,112 lots, up more than 2,000 from Monday.-Reuter