cocoa futures news

cocoa futures news

January 6th, 2017

Cocoa futures prices rose on Friday as disgruntled soldiers seized control of the second largest city in the world’s top grower Ivory Coast, prompting a wave of short covering, though the New York market turned lower along with the weak British pound.

Sugar and coffee futures eased.

March London cocoa settled up 12 pounds, or 0.7 percent, at 1,821 pounds per tonne, after surging 2.2 percent to a two-week high at 1,848 pounds following the reports from Ivory Coast.

Unrest in Ivory Coast appeared to be spreading with reports that gunfire had erupted in the western cocoa growing region of Daloa, hours after soldiers demanding salary increases seized the second largest city, Bouake.

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