Cocoa Rally: Prices Jump on BCOM Inclusion Hopes
Cocoa futures surged in early November as prospects of Bloomberg Commodity Index (BCOM) inclusion and tight supply fundamentals pushed prices toward $6,200/ton. ICCO’s deep deficit and record-low stocks-to-grindings ratio, coupled with expected passive inflows (~$1.9bn), are driving volatility. Exports from Ivory Coast and Nigeria have risen but haven’t erased the structural shortfall. Traders, manufacturers, and farmers should monitor ICE inventories, ICCO updates, open interest and farmgate policies for next moves.
