Benchmark cocoa futures fell 5.9 percent to eight-week lows on Tuesday, extending losses for the fifth straight day, as speculators reacted to good crop conditions in top growing region West Africa, traders said.
On the New York Board of Trade, the most-active December cocoa contract settled at $1,479 a tonne, down $92 or 5.8 percent, after trading from a high $1,555 to a bottom at $1,475, the lowest closing level since $1,449 on July 13.
Spot September likewise closed down $92 to $1,475, while longer-dated cocoa futures fell $92 to $95 lower from Friday. NYBOT was closed Monday for US Labour Day.