
Sep ICE NY cocoa (CCU23) on Friday closed +27 (+0.80%), and Sep ICE London cocoa #7 (CAU23) closed +14 (+0.55%).
Cocoa prices Friday closed moderately higher as prices consolidated their recent rally. On Wednesday, NY cocoa rallied to a 12-year nearest-futures high. The outlook for tighter future cocoa supplies is bullish for prices on last Friday's news that 2023/24 Ivory Coast forward cocoa sales during Oct 1-July 7 fell -1.3 MMT (-13.3%) y/y. Also, the Ivory Coast cocoa regulator, Le Conseil Cafe Cacao, said Tuesday that the Ivory Coast is not making further forward sales of cocoa for export in the 2023/24 season.