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Rich Asplund

Cocoa Prices End Sharply Higher as the Global Cocoa Deficit Widens

Ice Deficit ICCO the International Cocoa Organization London Ivory Coast NY

July ICE NY cocoa (CCN24) on Thursday closed up +464 (+4.93%), and July ICE London cocoa #7 (CAN24) closed up +261 (+3.44%).

Cocoa prices closed sharply higher on Thursday due to concern that tight global cocoa supplies will persist in the medium term after the International Cocoa Organization (ICCO) last Friday raised its 2023/24 cocoa deficit forecast.

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