Cocoa futures hit one month low

LONDON: Cocoa futures on ICE hit their lowest in a month on Wednesday, under pressure from still ample stocks and concerns over prospects for muted demand, while arabica coffee hit its lowest in more than a month.

COCOA

London cocoa fell 1.4 percent to £4,132 per metric ton after touching a one-month low of £4,104. Top global chocolate maker Barry Callebaut said in its earnings release earlier that the global chocolate market contracted 4.3 percent in the year to August, with the final quarter contracting 3.2 percent, noted a dealer.

He added the company, like other chocolate majors, expects muted volume growth overall in the year ahead.