Cocoa futures at the New York Board of Trade fell on Friday, ending about 1 percent lower as fund and speculative selling nudged prices to contract and one-year continuation lows, traders said.The NYBOT's benchmark December contract fell $14 to settle at $1,378 a tonne, the lowest price on the continuation chart since July 2004.
Its bottom trade of $1,374 on Friday was a new contract low, extending its previous contract low of $1,390 recorded on Thursday.
The December delivery has shed about 11 percent since scaling a five-week peak of $1,537 on August 3. It was the eighth straight session of price declines.