Cocoa Prices Decline Amid Global Cocoa Surplus Outlook

Thursday, 12 September 2024, 11:34

Cocoa prices are in retreat as the market anticipates a global cocoa surplus. On Thursday, cocoa closed down -140 (-1.81%), reflecting this bearish sentiment. The December ICE London cocoa #7 (CAZ24) also faced declines, closing down -43 (-0.80%) as traders reacted to shifting supply forecasts.
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Cocoa Prices Decline Amid Global Cocoa Surplus Outlook

Cocoa Market Overview

Cocoa prices are experiencing a downturn as expectations for a global cocoa surplus take center stage. The market closed down on Thursday with cocoa down -140 (-1.81%). Furthermore, the December ICE London cocoa #7 (CAZ24) saw a decline of -43 (-0.80%). Traders are reassessing supply and demand dynamics as the outlook shifts.

Current Market Trends

  • Cocoa prices have shown volatility due to changing supply forecasts.
  • The anticipated surplus raises concerns about price stability.
  • Market analysts are closely monitoring production reports from key regions.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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