**Cocoa Prices Mixed Amid Currency Fluctuations and Supply Concerns**
On Friday, May ICE NY cocoa closed down $18 (-0.54%) while May ICE London cocoa #7 rose by $7 (+0.29%). The fluctuations were influenced by a rally in the dollar index to a 3.5-month high and a decline in the British pound, which helped London cocoa prices recover from earlier losses.
Cocoa inventories on the Intercontinental Exchange reached a seven-month high of 2,264,484 bags, contributing to price pressures. Meanwhile, optimism surrounding rain in West Africa, expected to support crop yields, combined with reports of a significant local demand resurgence—over 400,000 metric tons of Ivory Coast cocoa bought in ten days—has introduced mixed price dynamics. In the current marketing year, Ivory Coast farmers shipped 1.35 million metric tons, down 3.6% from the previous year.
