ALL AGRI #Commodities

December ICE NY cocoa (CCZ25) closed down 123 points (−1.75%), and December ICE London cocoa #7 (CAZ25) was down 49 points (−1.00%). Cocoa prices dipped after touching earlier lows this week, as improved rainfall in Ivory Coast has boosted hopes for the upcoming West African cocoa crop.

The report estimates total sugar output at 41.42 million tonnes, up from the previous season’s figures, driven by favorable weather conditions, improved cane yields, and steady investments in modern milling technology. Analysts attribute the rise to higher sugar recovery rates and a possible shift in the ethanol-sugar production balance, with mills likely to allocate more cane towards sugar due to firm global prices.