Cocoa Prices Plunge 13% as Exporter Hedging Offsets Index Buying
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Cocoa Crisis:Cocoa in New York plunged the most intraday since July 2024 as exporters took advantage of buying related to index rebalancing to lock in more favorable prices.Futures fell as much as 13% on Friday, touching the lowest level since Nov. 28. That wiped out gains made earlier in the week tied to the rebalancing of broad commodity indexes, which Peak Trading Research has estimated could draw purchases of about 37,000 cocoa contracts.