March ICE NY cocoa (CCH26) on Tuesday closed up +71 (+1.21%), and March ICE London cocoa #7 (CAH26) closed up +34 (+0.80%).
NY cocoa prices closed higher on Tuesday on continued support from expectations for index-related buying tied to the addition of cocoa futures to the Bloomberg Commodity Index (BCOM) starting in January. According to Citigroup, the inclusion of cocoa in the BCOM may lure as much as $2 billion of buying of NY cocoa futures.
