
March ICE NY cocoa (CCH24) on Friday closed -23 (-0.54%), and Mar ICE London cocoa #7 (CAH24) closed +2 (+0.06%).
NY cocoa prices on Friday closed lower as a stronger dollar induced some long liquidation pressure after the 3-month rally. Cocoa prices remain underpinned by the outlook for tight global supplies. Last Friday, the Ivory Coast's regulator halted forward sales for the 2023-24 Ivory Coast mid-crop, which starts April 1, 2024, so the nation's production forecast can be reviewed. The halt adds to the tumult of the region's cocoa supplies, and the impact could multiply if the halt is prolonged into the next season.