Gruma SAB is poised to extend the biggest rally among major Mexican stocks as it taps a growing appetite for tortillas in Europe, the U.S. and Asia.
A ship loaded with cocoa beans left Ivory Coast’s port of San Pedro yesterday for the first time since an export ban issued by President Alassane Ouattara was lifted, according to the harbor.
Exports of cocoa from Ivory Coast’s western port of San Pedro are expected to be 630,000 metric tons this year, little changed from 2012, according to Guy Manouan, the port’s marketing director.
The end of Mexico’s 75-year state energy monopoly is making potential allies of Alfa SAB, a conglomerate with a stake in U.S. shale wells, and Colombia’s Pacific Rubiales Energy Corp.
Cocoa-growing areas in Ivory Coast, the world’s biggest producer of the beans, had more moderate rains last week while farmers said the abundant rainfall recently made access to the farms difficult.
Gruma SAB de CV, the world’s largest tortilla maker, agreed to sell its Mexican wheat flour operations to Grupo Trimex SA for $200 million, the company said in statement to the Mexican Stock Exchange.