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Rich Asplund

Cocoa Prices Climb as Early Ivory Coast Mid-Crop Results Disappoint

Ice Ivory Coast ICCO the Ivory Coast London NY

July ICE NY cocoa (CCN23) on Tuesday closed up +15 (+0.50%), and July ICE London cocoa #7 (CAK23) closed up +37 (+1.64%).

Cocoa prices Tuesday settled moderately higher as early results for the Ivory Coast mid-crop are disappointing.  Farmers have reported poor cocoa quality, with cocoa bean counts averaging 120 for every 100 grams.  Exporters prefer counts of 80 to 100 for every 100 grams, with the best cocoa quality having the lower bean count.

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