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Barchart
Rich Asplund

Cocoa Prices Close Moderately Higher on Strong Demand

Ice ICCO Ivory Coast NY London

May ICE NY cocoa (CCK23) on Wednesday closed up +25 (+0.82%), and May ICE London cocoa #7 (CAK23) closed up +1 (+0.04%).

Cocoa prices Wednesday extended their month-long rally to new 6-1/2 year highs.  Cocoa prices have rallied sharply over the past month on signs of improved cocoa demand and tighter global supplies.  On Wednesday, Gepex, a cocoa exporter group that includes six of the world's biggest cocoa grinders, reported that its Q1 cocoa processing jumped +22% y/y to 189,405 MT.

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