$FRG

Cocoa prices have fallen sharply due to an increase in supplies and a decline in demand. May ICE NY cocoa closed down 6.40%, reaching a one-month low, while May ICE London cocoa dropped 5.21%, marking a 1.5-week low. This significant drop suggests excess supply in the market is outpacing demand, raising concerns for cocoa producers. Traders should be cautious as this trend could persist if demand does not improve. Overall, the cocoa market is experiencing bearish sentiment amid these developments.