[Cocoa futures narrowed weekly losses as shortage risks clouded the supply outlook] On September 4, cocoa futures rose in the New York and London markets, narrowing this week's losses. The market is weighing the prospect that supply may be abundant in the short term, but could turn into a shortage next season. The CEO of Guan Chong Berhad, Asia's largest cocoa processor, recently predicted that the global cocoa market will turn into a supply shortage in the 2026-27 production season, which will be the first gap in three years. A strengthening El Niño weather pattern is threatening cocoa crops in key growing areas. That includes Ghana. Ghana's cocoa production could fall by as much as 38% from the previous year, according to the country's state-run export agency.