
March ICE NY cocoa (CCH26) on Friday closed down -89 (-1.50%), and March ICE London cocoa #7 (CAH26) closed down -43 (-0.99%).
Cocoa prices extended this week's losses on Friday, with NY cocoa falling to a 1.5-week low. Favorable weather in West Africa is expected to boost yields and supply, which is undercutting prices. Cocoa farmers in the Ivory Coast are reporting that a mix of rain and sunshine is helping cocoa trees bloom, and farmers in Ghana said rains have been regular and helpful to cocoa tree and pod development ahead of the harmattan season.