Caution marks cocoa market in October

Cocoa prices rose again in the week ending October 24, following a period of correction. In New York, the most traded contract closed at $6,319 per tonne; in London, at £4,518. The weekly increases were 7.19% and 10.03%, respectively, but the movement reflects more of a technical adjustment than a structural change in the market. According to Hedgepoint Global Markets, part of the recent fluctuations was influenced by third-quarter grinding data, the main gauge of global cocoa demand. In Asia, the Cocoa Association of Asia (CAA) recorded a 17.08% drop in processed volume compared to the same period in 2024, with Malaysia standing out where the contraction reached 35%. Still, Indonesia and Singapore showed positive performance, which mitigated the regional result. In Europe, according to market intelligence analyst Carolina França of Hedgepoint, the decline was less than expected. "The deficit of net imports has been gradually decreasing, signaling a slight recovery in activity ...