Cocoa Halts Longest Rally in 3 Years; Cotton, Orange Juice Drop
This article is for subscribers only.
Cocoa declined, halting the longest rally in more than three years, on bets that global supplies will be ample even amid political unrest in Ivory Coast, the world’s largest producer. Cotton and orange juice dropped.
Ghana, the second-biggest cocoa producer, purchased more beans from farmers this season as better weather and increased use of pesticide and fertilizer boosted the crop. Prices have jumped 17 percent since a Nov. 28 election in Ivory Coast, when President Laurent Gbagbo refused to yield power to President-elect Alassane Ouattara.