Cocoa’s Slump Deepens on Brighter Outlook for African Supplies

Cocoa fell sharply in New York, headed for a third weekly loss, on the back of improved prospects for supplies from top producer Ivory Coast.

Futures tumbled as much as 6.4% on Friday below $5,300 a ton, the lowest level since February 2024. The drop pushed a key technical guage into oversold territory, indicating the recent selloff may have been too rapid. Prices are down about 55% this year.