LONDON: London cocoa futures rose on Monday as a partial recovery in production in West Africa was seen as being potentially insufficient to prevent another global deficit, while robusta coffee prices sank to a two-month low.
COCOA: March London cocoa rose 1.1% to 5,078 pounds a metric ton by 1424 GMT, edging back up towards last week’s one-month high of 5,481 pounds.
Analyst BMI in a note forecast there would be another global deficit in the current 2024/25 season (October/September), although a much smaller one of 0.03 million tons compared with a shortfall of 0.44 million tons in 2023/24.
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