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Rich Asplund

Cocoa Prices Close Higher on Uncertainty Over Global Supplies

Ice Ivory Coast London NY ICCO

March ICE NY cocoa (CCH25) Tuesday closed up +264 (+2.94%), and December ICE London cocoa #7 (CAZ24) closed up +170 (+2.22%).

Cocoa prices settled moderately higher on Tuesday due to uncertainty over future cocoa supplies. Last Friday, NY cocoa posted a 2-1/2 month high, and London cocoa posted a 4-1/4 month high as recent heavy rains in the Ivory Coast led to reports of high mortality rates of cocoa buds on trees because of the heavy rain.

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