Cocoa prices regain some ground

LONDON, Sept 24 (Reuters): Cocoa futures on ICE were higher on Wednesday boosted by a pick-up in industry buying following a decline in prices to two-month lows earlier this week.

London cocoa rose by 0.3% to 4,931 pounds a metric ton by 1104 GMT after setting a two-month low of 4,874 pounds on Tuesday.

Dealers said industry buying had helped stem the recent decline in prices which was driven partly by origin hedge-selling ahead of the start of the 2025/26 season on October 1.

The prospect of a further delay in the implementation of the EU's anti-deforestation law has also contributed to this week's decline in prices.

New York cocoa was up 1.6% at $7,140 a ton after hitting a two-month low of $6,896 on Tuesday.

Meanwhile, Arabica coffee rose by 1.4% to $3.4015 per lb as the market clawed back some of the prior session's losses.