“`html
On Thursday, March ICE NY cocoa (CCH26) closed down -18 (-0.33%) and March ICE London cocoa #7 (CAH26) decreased by -49 (-1.22%) as cocoa prices were influenced by a rebound in the dollar and favorable weather conditions in West Africa.
The International Cocoa Organization (ICCO) recently revised its 2024/25 cocoa surplus estimate down to 49,000 MT, with global production expected to rise to 4.69 MMT. Additionally, cocoa arrivals in the Ivory Coast decreased 2.1% year-on-year, totaling 718,451 MT from October 1 to November 30.
Meanwhile, cocoa inventories in U.S. ports fell to an 8.5-month low of 1,682,716 bags, and weak global demand highlights bearish trends, with significant declines in Q3 cocoa grindings reported in Asia and Europe.
“`
