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Market Impact: 0.4
Cocoa Prices Surge on Supply Fears and Global Weather Risks
Source: Nasdaq
Commodities & Raw MaterialsCommodity Futures
December ICE New York cocoa rose 289 points, or 5.37%, on Friday, while December London cocoa gained 207 points, or 5.13%, with both reaching two-week highs. The rally extended Thursday's strength after Ghana raised the price paid to cocoa farmers, a development that may support producer incomes while increasing concerns about cocoa supply costs.
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