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Rich Asplund

Cocoa Posts Moderate Losses on the Outlook for a Global Cocoa Surplus

Ice United States Ghana ICCO NY

December ICE NY cocoa (CCZ24) Thursday closed down -140 (-1.81%), and December ICE London cocoa #7 (CAZ24) closed down -43 (-0.80%).

Cocoa prices Thursday gave up early gains and turned lower on the outlook for a global cocoa surplus after JSG Commodities said it expects a +99,000 MT global cocoa surplus in the upcoming 2024/25 season following a -520,000 MT deficit in the 2023/24 season.

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