1945

Risk management

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Cocoa trading, like all other commodity trading, has an inherent set of risks. It is generally good policy to identify these risks and set up a formal and realistic programme of how to manage them, preferably in writing and communicated to all participants in their respective trading activities. Risk management may be seen as a series of actions that modifies the risks from less acceptable to more acceptable. It could perhaps be described as a policy of ‘replacing the devil you don’t know with the devil you know’, to use a variation on a familiar saying.

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