Cocoa Extends Drop on US Tariff Ruling, Improved Crop Prospects
Cocoa hit its longest losing streak in nearly three years after the US trade court's decision to block the vast majority of President Donald Trump's global tariffs added to a bearish momentum.
The ruling deemed illegal the bulk of Trump's levies, including the global flat tariff that had made it costly for chocolate companies in the US to import cocoa. The New York contract's premium over London futures for July delivery narrowed to about $770 a ton, down from $875 earlier this week.
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