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Rich Asplund

Cocoa Prices Consolidate Recent Losses

Ice the Ivory Coast ICCO London

May ICE NY cocoa (CCK26) on Friday closed up +1 (+0.03%), and May ICE London cocoa #7 (CAK26) closed up +14 (+0.59%).

Cocoa prices settled slightly higher on Friday as they consolidated recent losses. Cocoa prices have been under pressure over the past two weeks and posted 3-week lows on Thursday amid expectations of a bumper West African cocoa crop. Farmers in the Ivory Coast and Ghana have recently reported that consistent rains have boosted pod development on cocoa trees.

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