US cocoa futures rallied more than 2 percent to a five-month high Friday, extending the week's lofty gains amid follow-through fund buying, dealers said. Limited seasonal selling from producers, coupled with dollar weakness, also fuelled the bullish sentiment, they said.
The New York Board of Trade's cocoa contract for September delivery settled up $38, or 2.37 percent, at $1,639 per tonne, its loftiest finish since January 18, after trading from $1,619 to $1,649. Longer-dated cocoa surged $38 to $40.
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