Cocoa fell the most in almost four weeks in New York on signs of plentiful supplies from Africa. Sugar dropped. Cocoa supplies will exceed demand by 193,000 metric tons in the season that ends in September, Rabobank International said in a report yesterday. Prices dropped 7.1 percent last month as so-called arrivals, or beans ready for export, accelerated from the Ivory Coast, the biggest grower. “The supply of beans is likely to be sufficient to meet demand, with Ivory Coast, Ghana and other African producers all reporting sizable increases in arrivals,” Keith Flury, a London-based analyst at Rabobank, wrote in the report. “We expect cocoa prices to correct lower.” Cocoa for September delivery fell $61, or 2.1 percent, to $2,914 a metric ton by 7:22 a.m. on ICE Futures U.S. in New York. That would be the biggest drop on a closing basis since May 20. Cocoa for July delivery dropped 13 pounds, or 0.7 percent, to 1,824 pounds ($2,940) on NYSE Liffe in London. Cocoa supplies from the Ivory Coast were disrupted in January after President Alassane Ouattara ordered a ban on cocoa exports to cut off funds to former leader Laurent Gbagbo, who refused to cede power after losing a Nov. 28 election. Gbagbo was captured on April 11 and Ouattara ended the ban by April 15. White, or refined, sugar for August delivery fell $8.30, or 1.2 percent, to $698.10 a ton in London. Raw sugar for October delivery declined 0.36 cent, or 1.5 percent, to 23.79 cents a pound in New York. Robusta coffee for September delivery was unchanged at $2,432 a ton in London. Arabica coffee for September delivery declined 1.6 cents, or 0.6 percent, to $2.6425 a pound in New York. To contact the reporter on this story: Maria Kolesnikova in London at mkolesnikova@bloomberg.net To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net.

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