New York cocoa futures fall as rainfall in production areas boosts crop expectations
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The most active contract once fell by 4.9% to $3,261 per ton, marking the largest intraday decline since February 27. Meteorological forecasting agency Vaisala stated on March 11 that scattered to isolated showers appeared in West Africa earlier this week, with heavier rainfall in southwestern Ghana and Nigeria. Similar rainfall is expected to continue over the next five days starting Wednesday, which will benefit crop flowering.
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