New York cocoa futures surge over 12% as El Niño climate concerns force investors to cover short positions
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ICE Arabica coffee futures rose by 1.83%, coffee “C” futures increased by 2.37%. Robusta coffee futures climbed by 2.69%. New York cocoa futures surged by 12.34% to $4,698/ton. London cocoa futures gained 10.66%. Chicago WCE low-erucic rapeseed futures dropped by 1.31%. ICE cotton futures rose by 4.08%.
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