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Rich Asplund

Cocoa Prices Close Lower as Nigerian Cocoa Exports Jump

Nigeria London Ivory Coast Ghana ICCO NY

December ICE NY cocoa (CCZ24) Wednesday closed down -84 (-1.07%). September ICE London cocoa #7 (CAU24) closed down -66 (-1.15%).

Cocoa prices posted moderate losses on Wednesday, with London cocoa posting a 3-month low. An increase in cocoa exports from Nigeria, the world's sixth largest cocoa producer, weighed on prices Wednesday after Nigeria's July cocoa exports jumped +31% y/y to 17,456 MT.

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