New York Cocoa Bean Futures Prices 1/ Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Annual --------Dollars per metric ton-------- 1985 2,130 2,205 2,180 2,239 2,118 2,017 2,110 2,165 2,233 2,259 2,158 2,249 2,172 1986 2,218 2,105 2,006 1,873 1,795 1,795 1,931 1,964 2,108 1,997 1,927 1,887 1,967 1987 1,898 1,870 1,922 1,982 1,980 1,918 2,048 1,955 1,920 1,850 1,856 1,810 1,917 1988 1,903 1,717 1,601 1,570 1,638 1,563 1,570 1,391 1,190 1,272 1,420 1,453 1,524 1989 1,404 1,501 1,413 1,270 1,198 1,199 1,279 1,221 1,078 1,008 961 933 1,205 1990 961 996 1,099 1,290 1,394 1,264 1,285 1,220 1,310 1,253 1,271 1,229 1,214 1991 1,202 1,161 1,168 1,100 1,026 990 988 1,087 1,234 1,270 1,256 1,307 1,149 1992 1,236 1,132 1,071 974 930 886 1,025 1,100 1,044 1,013 1,016 975 1,034 1993 986 929 909 938 924 908 981 1,010 1,157 1,176 1,199 1,249 1,031 1994 1,171 1,123 1,206 1,140 1,281 1,352 1,449 1,436 1,365 1,340 1,314 1,289 1,289 1995 1,373 1,401 1,371 1,369 1,338 1,329 1,269 1,332 1,314 1,325 1,363 1,305 1,341 1996 1,288 1,296 1,253 1,359 1,396 1,405 1,386 1,395 1,381 1,399 1,371 1,384 1,359 1997 1,360 1,289 1,426 1,458 1,461 1,585 1,582 1,573 1,688 1,670 1,618 1,666 1,531 1998 1,613 1,569 1,638 1,655 1,720 1,643 1/ Average of the daily closing price of the nearest three active futures trading months on the New York market. Note: The latest month is cumulative through the latest available day. New York Cocoa Bean Futures Prices 1/ Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Annual Cents per pound 1985 98.3 100.0 98.9 101.6 96.1 91.5 95.7 98.2 101.3 102.5 97.9 102.0 98.7 1986 100.6 95.5 91.0 84.9 81.4 81.4 87.6 89.1 95.6 90.6 87.4 85.6 89.2 1987 86.1 84.8 87.2 89.9 89.8 87.0 92.9 88.7 87.1 83.9 84.2 82.1 87.0 1988 86.3 77.9 72.6 71.2 74.3 70.9 71.2 63.1 54.0 57.7 64.4 65.9 69.1 1989 63.7 68.1 64.1 57.6 54.3 54.4 58.0 55.4 48.9 45.7 43.6 42.3 54.7 1990 43.6 45.2 49.9 58.5 63.2 57.3 58.3 55.4 59.4 56.8 57.7 55.8 55.1 1991 54.5 52.7 53.0 50.0 46.5 44.9 44.8 49.3 56.0 57.6 57.0 59.3 52.1 1992 56.1 51.3 48.6 44.2 42.2 40.2 46.5 49.9 47.3 45.9 46.1 44.2 46.9 1993 44.7 42.1 41.2 42.5 41.9 41.2 44.5 45.8 52.5 53.3 54.4 56.7 46.7 1994 53.1 50.9 54.7 51.7 58.1 61.3 65.7 65.1 61.9 60.8 59.6 58.5 58.5 1995 62.3 63.5 62.2 62.1 60.7 60.3 57.6 60.4 59.6 60.1 61.8 59.2 60.8 1996 58.4 58.8 56.8 61.6 63.3 63.7 62.9 63.3 62.6 63.5 62.2 62.8 61.7 1997 61.7 58.4 64.7 66.1 66.3 71.9 71.8 71.4 76.6 75.7 73.4 75.6 69.5 1998 73.2 71.2 74.3 75.1 78.0 74.5 1/ Average of the daily closing price of the nearest three active futures trading months on the New York market. Note: The latest month is cumulative through the latest available day. Source: The Coffee, Sugar and Cocoa Exchange, Inc. June 1998 Horticultural and Tropical Products Division, FAS/USDA