Cocoa

Impact: Cocoa prices are falling due to selling pressure from producers, abundant inventories, and weak global demand, despite some supportive factors like El Niño–Southern Oscillation concerns and reduced surplus estimates.

Impact: Cocoa prices are sharply higher due to prospects of a smaller global surplus, resilient consumer demand for chocolate, and disruptions in global supplies caused by the closure of the Strait of Hormuz.

Impact: Cocoa prices have rallied to 5-month highs due to supply concerns from West Africa and the potential impact of an El Niño weather pattern, despite some bearish factors like rising inventories and weak demand in certain regions.

Impact: Cocoa crops in Ecuador and West Africa could be affected by El Ni , potentially leading to reduced output and higher prices, impacting global supply.