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Rich Asplund

Cocoa Prices Finish Higher as ICE Inventories Shrink

Ice Ghana ICCO NY London

December ICE NY cocoa (CCZ24) Friday closed up +39 (+0.55%), and December ICE London cocoa #7 (CAZ24) closed up +52 (+1.03%).

Cocoa prices recovered from early losses on Friday and posted moderate gains as tighter cocoa stockpiles sparked short covering in cocoa futures. ICE-monitored cocoa inventories held in US ports have been trending lower for the past 15 months and fell to a 15-year low Friday of 2,036,770 bags.

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