Cocoa Prices: Mixed Close, Bullish Outlook

Cocoa prices fluctuated on Friday, with New York cocoa down and London cocoa up, following a week of gains. The US dollars strength impacted New York prices, while a weaker British pound boosted London cocoa. Global supply concerns, including a reduced ICCO surplus estimate and shrinking inventories, have supported prices. However, potential factors like good growing conditions in West Africa and a delayed EU deforestation law could keep supplies ample. The inclusion of New York cocoa in the Bloomberg Commodity Index in January may attract significant investment fund buying.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.