NYBOT Announces Reminder Of Update Re: Change To Maximum Bean Count For Class C Cocoa

On June 13, 2002, the New York Board of Trade® (NYBOT®) announced amendments to its Cocoa Rule 9.18 that will reduce the maximum bean count permitted for delivery of Class C cocoa from 1,600 beans per kilogram to 1,400 beans per kilogram. This change becomes effective for the July 2004 delivery and all subsequent contracts. Questions have been raised recently regarding the proper interpretation of the rule change.

This is to reaffirm that, commencing with the July 2004 delivery, the maximum bean count permitted for delivery of Class C cocoa will be 1,400 beans per kilogram, notwithstanding any provisions contained in the rules to the contrary.

The New York Board of Trade (NYBOT) is the parent company of the Coffee, Sugar and Cocoa Exchange, Inc. (CSCE) and the New York Cotton Exchange (NYCE). Through its two exchanges, NYBOT offers an expanding range of agricultural and financial products. Information about the New York Board of Trade can be found at www.nybot.com and www.nybotlive.com.