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Rich Asplund

Cocoa Prices Climb on Reduced Ivory Coast Cocoa Output

Ice Ivory Coast Mar ICE ICCO Ghana

March ICE NY cocoa (CCH24) on Tuesday closed +79 (+1.88%), and Mar ICE London cocoa #7 (CAH24) closed +67 (+1.91%).

Cocoa prices on Tuesday posted moderate gains.   Signs of smaller cocoa output in the Ivory Coast support prices after the Ivory Coast government Tuesday reported Ivory Coast farmers shipped 824,730 MT of cocoa to ports from October 1-December 31, down -34% from the same time last year.  The Ivory Coast is the world's largest cocoa producer.

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