News

US and UK: Cocoa falls more than 6% for the second consecutive session after recent records

Cocoa Bean
Cocoa Products
United States
United Kingdom
Market & Price Trends
Published Feb 29, 2024

Tridge summary

Cocoa futures on the ICE exchange fell more than 6% on Wednesday. May London cocoa contract fell 363 pounds, or 6.6%, to 5,134 pounds per tonne. Investors opted to take profits even as concerns about the reduction of supply in West Africa.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

NEW YORK (Reuters) - Cocoa futures traded on the ICE exchange fell more than 6% on Wednesday, ending with sharp losses for the second session in a row, as investors opted to take profits even as concerns about the reduction of supply in West Africa. COCOA * The May London cocoa contract fell 363 pounds, or 6.6%, to 5,134 pounds per tonne, after setting a record at 5,605 pounds on Monday. * The May cocoa contract in New York fell 7.1% to $5,994 a ton. * Analysts seemed unfazed by the losses. * "Traders need to wait for ...
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