Cocoa Prices Dip Due to West African Weather, But Factors Could Support Recovery

Cocoa prices dip due to favorable weather in West Africa, boosting supply and lowering prices. Farmers in Ivory Coast and Ghana report good conditions for cocoa growth. Increased cocoa arrivals at Ivory Coast ports also contribute to the price drop. However, falling US port inventories and New York cocoas inclusion in the Bloomberg Commodity Index could potentially support prices.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.