While technical sales are hurting New York cocoa, commodity prices have stabilized in a mixed manner.

Mar London cocoa has an all-time high for the nearest futures contracts. May ICE NY cocoa (CCK24) closed down -102 (-1.56%) on Tuesday, and March's ICE London #7 cocoa (CAH24) closed up +35 (+0.60%). New York cocoa retreated from Monday's record high as overbought conditions in New York cocoa triggered prolonged technical selling and liquidation pressures. The decline in cocoa production in Côte d'Ivoire is a major upward factor for cocoa prices

Mercredi dernier, le Ghana Cocoa Board has lowered its estimate of cocoa production in Ghana for 2023/24 at a 14-year low of 650,000 to 700,000 tonnes, compared to a previous forecast of 850,000 tonnes, citing smuggling and adverse weather conditions