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Rich Asplund

Beneficial Growing Conditions in West Africa Weigh on Cocoa Prices

Ice West Africa Africa ICCO NY European Union London the International Cocoa Organization the Ivory Coast

March ICE NY cocoa (CCH26) today is down -178 (-2.93%). March ICE London cocoa #7 (CAH26) is down -129 (-2.95%).

Cocoa prices are sharply lower today, posting 1-week lows. Improved weather in West Africa is weighing on cocoa prices today. Tropical General Investments Group said today that favorable growing conditions in West Africa are expected to boost the February-March cocoa harvest in the Ivory Coast and Ghana, as farmers report larger and healthier pods compared with the same period last year.

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