Cocoa futures fell to their lowest level in more than four months on expectations of rising supply and falling demand, reported ag. Bloomberg.
The agency provided data showing that on July 29 in New York, the most actively traded futures contract for cocoa beans fell 4.4% to $6,650 a ton.
Cocoa prices remain above historical averages and demand for this commodity is likely to decline. Several chocolate makers have warned that this will put their profitability under pressure in the second half.