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Rich Asplund

Cocoa Prices Close Sharply Higher as Ivory Coast Cocoa Exports Slow

Ice Ivory Coast ICCO Hershey Mondelez

May ICE NY cocoa (CCK25) Tuesday closed up +275 (+3.48%), and May ICE London cocoa #7 (CAK25) closed up +103 (+1.66%).

Cocoa prices rallied Tuesday after news that Ivory Coast cocoa exports slowed.  Tuesday's government data showed that Ivory Coast farmers shipped 1.44 MMT of cocoa to ports this marketing year from October 1 to March 30, up +11% from last year but down from the much larger 35% rise seen in December.

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