
March ICE NY cocoa (CCH25) today is down -174 (-1.88%), and March ICE London cocoa #7 (CAH25) is down -194 (-2.54%).
Cocoa prices today are moderately lower as an increase in cocoa supplies from Nigeria, the world's sixth-largest cocoa producer, sparked long liquidation in cocoa futures. Nigeria's Oct cocoa exports rose +15% y/y to 20,508 MT. Losses in London cocoa accelerated today after the British pound (^GBPUSD) rallied to a 1-week high, undercutting cocoa priced in sterling.