Cocoa prices mixed as currency shifts impact New York and London markets

Cocoa prices closed mixed Tuesday, with New York cocoa down and London cocoa up, influenced by currency shifts. A stronger dollar hurt New York cocoa, while a weaker British pound boosted London cocoa. This comes amid a prolonged downtrend due to ample supplies and weak demand. The International Cocoa Organization forecasts a surplus, and buyers are hesitant to meet high farm-gate prices, increasing available supplies.