Cocoa dips on Reuters Ivory Coast harvest reports

Cocoa prices fell in London and New York on Nov 23 after Reuters reported exclusively that Ivory Coast’s cocoa output had outpaced the five-year average in the first six weeks of the season due to favorable growing weather. The benchmark London contract fell quickly after the story, from 2170 pounds to 2160 pounds per ton. Cocoa futures were down as much as 1.5 percent the following day before recouping some losses. Research analysts quoted the Reuters which were unmatched by competitors. Reuters reporters in Ivory Coast are consistently first with news on cocoa in the world’s biggest producer. Reuters news is essential for professionals following commodities and energy markets.