
March ICE NY cocoa (CCH26) on Friday closed up +110 (+2.22%). March ICE London cocoa #7 (CAH26) closed up +62 (+1.70%).
Cocoa prices moved higher on Friday as a smaller-than-expected decline in Asian cocoa grindings sparked short covering in cocoa futures. The Cocoa Association of Asia on Friday reported that Q4 Asian cocoa grindings fell -4.8% y/y to 197,022 MT, a smaller decline than expectations of -12% y/y. Also, Q4 North American cocoa grindings rose +0.3% y/y to 103,117 MT, slightly better than expectations of no change.