REUTER COMMODITIES NEWS HIGHLIGHTS 1200 GMT - APRIL 7
The International Cocoa Organization buffer stock
could face an uphill battle to halt the downtrend in world
cocoa prices when it begins operations in the next few weeks,
cocoa traders said. They believed buffer stock purchases could
reach 75,000 tonnes in a matter of weeks without lifting prices
significantly. (XYZS 1019) Cocoa futures were about unchanged
from last night by midmorning. Sterling's strength together
with continued availability of West African new crop physical
offerings more than outweighed any bullish impact from last
night's higher New York market, dealers said. (CKLB)
    LONDON - Dry cargo futures on BIFFEX dropped sharply in
morning trading as further profittaking emerged after the
recent rise in values, dealers said. Near July fell 45 points
and near limit in initial activity, but later recovered. (OFLB)
    ATHENS - Greece and the Soviet Union have reached agreement
on a joint venture for a 450 mln dlr alumina plant in Greece,
government spokesman Yannis Roubatis said. The USSR agreed to
buy the plant's entire annual output of 600,000 tonnes of
alumina. (XZAG 1103)
    LONDON - Cargill U.K.'s oilseed processing plant in
Seaforth is still strikebound, a company spokesman said. (XYZJ
0941)
    LONDON - The cocoa, coffee and sugar markets are adopting
with immediate effect a uniform presentation on their
respective open positions referring to previous day's trading
figures, the LCE said. (XZAP 1151)
    MOSCOW - The Soviet Communist Party has criticised the
country's Grain Products Ministry for failing to ensure proper
grain storage, turning out poor quality bread and keeping
unsatisfactory books, Pravda said. The party daily said that
losses in the industry owing to waste and theft amounted to 7.3
mln roubles over the last two and a half years. (XYZQ 1012)
 REUTER
