Cocoa climbed to the highest level in almost three weeks in New York as bean processing in Europe, the biggest consuming region, gained more than traders had forecast in the fourth quarter. Coffee and sugar declined.
Cocoa rebounded in London on signs an extended dry period in West Africa, the world’s main growing region, could reduce yields for the next crop. White sugar rose and robusta coffee was little changed.
European cocoa-bean processing may have been bigger than reported in the third quarter because Fuchs & Hoffmann GmbH, a grinder in Germany that provided no figures for the period, was processing at full capacity.