Agricultural and soft commodity prices rose strongly on Monday, strengthened by fresh buying by hedge funds and speculators who consider these sectors to be relatively immune from the possibility of a global economic downturn and turbulence in financial markets.

Cocoa prices rose as suppliers from the Ivory Coast, the world’s top producer, have been unable to register new shipments for export owing to strike action affecting its coffee and cocoa bourse. The main cocoa-growing areas have also been without rain for more than a month. Liffe May coffee rose £7 to £1,235 a tonne.