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Rich Asplund

Cocoa Prices Consolidate This Week's Rally

Ice Mar ICE Mar London Mar NY ICCO Deficit Ivory Coast Ghana

March ICE NY cocoa (CCH24) on Thursday closed -21 (-0.49%), and Mar ICE London cocoa #7 (CAH24) closed -4 (-0.11%).

Cocoa prices on Thursday posted moderate losses as they consolidated this week's gains. Mar NY cocoa and Mar London cocoa posted contract highs this week as cocoa supply concerns underpin prices. 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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