
March ICE NY cocoa (CCH26) today is up +229 (+4.17%), and March ICE London cocoa #7 (CAH26) is up +112 (+2.83%).
Cocoa prices are sharply higher today, with NY cocoa posting a 3-week high. The outlook for a smaller-than-expected global cocoa surplus has lifted prices over the past week. Last Friday, the International Cocoa Organization (ICCO) cut its global 2024/25 cocoa surplus estimate to 49,000 MT from a previous estimate of 142,000 MT, and lowered its global 2024/25 cocoa production estimate to 4.69 MMT from a prior estimate of 4.84 MMT.