Cocoa Prices Drop to 4-Month Low as ICE Stocks Surge and Weather Outlooks Improve
Cocoa futures on the ICE exchange tumbled to a four-month low on Friday, signaling a tough week for the commodity amid growing stockpiles and favorable weather forecasts in key producing regions. At 1259 GMT, London cocoa fell by 3.6%, dropping to £6,110 per metric ton, as traders reacted to a substantial increase in ICE-certified stocks…