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Barchart
Barchart
Rich Asplund

Cocoa Prices Consolidate Below Recent Highs

Ice Ivory Coast ICCO Ghana London

March ICE NY cocoa (CCH24) on Friday closed +23 (+0.54%), and Mar ICE London cocoa #7 (CAH24) closed -13 (-0.36%).

Cocoa prices on Friday consolidated below the recent contract highs.  Cocoa prices have recently seen strength on cocoa supply concerns.  Monday's data from the Ivory Coast government showed Ivory Coast farmers shipped 671,544 MT of cocoa to ports from October 1-December 17, down -33% from the same time last year.  The Ivory Coast is the world's largest cocoa producer.

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