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Rich Asplund

Cocoa Finishes With Sharp Gains on Reduced Cocoa Output in the Ivory Coast

Ice Ivory Coast the Ivory Coast Ghana NY London

September ICE NY cocoa (CCU24) on Tuesday closed up +322 (+4.08%), and September ICE London cocoa #7 (CAU24) closed up +208 (+3.31%).

Cocoa prices Tuesday rose sharply for a second session, with NY cocoa posting a 1-1/2 week high. Lower cocoa production in the Ivory Coast, the world's largest producer, underpins cocoa prices. Government data Monday showed that Ivory Coast farmers shipped 1.66 MMT of cocoa to ports from October 1 to August 4, down by -28% from the same time last year.

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