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Rich Asplund

Cocoa Price Slip on the Outlook for a 2024/25 Global Cocoa Surplus

Ice United States Ghana ICCO NY

December ICE NY cocoa (CCZ24) today is down -132 (-1.71%), and December ICE London cocoa #7 (CAZ24) is down -30 (-0.56%).

Cocoa prices today gave up an early advance and turned lower on the outlook for 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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