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Rich Asplund

Cocoa Prices Boosted by Reduced Ivory Coast Cocoa Exports

Ice ICCO Ivory Coast the International Cocoa Organization NY London

May ICE NY cocoa (CCK23) on Friday closed up +16 (+0.56%), and May ICE London cocoa #7 (CAK23) closed up +16 (+0.75%).

Cocoa prices Friday closed moderately higher, with NY cocoa posting a 2-1/4 year nearest-futures high.  A monthly report from the International Cocoa Organization (ICCO) Friday boosted prices after the report said cocoa exports from the Ivory Coast fell -9.3% y/y to 530,314 MT between October and January, citing "the detrimental effects of cocoa-related diseases like the Cocoa Swollen Shoot Virus Disease."    

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