Cocoa Prices Dip Amid Weather Boost, Inventory Scarcity

Cocoa prices experience a slight decline due to favorable weather in West Africa, leading to anticipated bigger harvests and increased supply. However, inventory levels in US ports have reached a nine-month low, typically driving prices up. Citigroups revised estimate for global cocoa surplus suggests a potentially weaker long-term outlook for abundant cocoa. The inclusion of New York cocoa futures in the Bloomberg Commodity Index in January could attract significant investment, potentially boosting prices.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.