Cocoa Futures Surge on Supply Fears

Cocoa futures experienced a significant surge due to renewed concerns over crop production in West Africa, marking the largest intraday jump since May. The most-active cocoa contract in New York saw an increase of up to 14%, partially recovering from last week's losses when investors took profits following record high prices.

London cocoa also gained by as much as 14%, as cocoa bean supplies at exchange certified stockpiles continued to dwindle. This rally underscores the ongoing supply challenges facing the cocoa market, making it one of the year's hottest commodities.