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Rich Asplund

Cocoa Prices Fall on Favorable West African Weather

Ice West Africa Africa ICCO European Union Ivory Coast the Ivory Coast London the International Cocoa Organization

March ICE NY cocoa (CCH26) today is down -109 (-1.96%), and March ICE London cocoa #7 (CAH26) is down -69 (-1.69%).

Cocoa prices are moving lower today as favorable weather forecasts in West Africa should improve cocoa yields and boost supplies. Cocoa farmers in the Ivory Coast are reporting that a mix of rain and sunshine is helping cocoa trees bloom, and farmers in Ghana said rains have been regular and helpful to cocoa tree and pod development ahead of the harmattan season.

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