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Rich Asplund

Cocoa Prices Finish Higher on Ivory Coast Mid-Crop Concerns

Ice Ivory Coast ICCO London Hershey Mondelez NY

May ICE NY cocoa (CCK25) Wednesday closed up +100 (+1.25%), and May ICE London cocoa #7 (CAK25) closed up +62 (+1.00%).

Cocoa prices Wednesday settled moderately higher on short-covering due to concern about the Ivory Coast's upcoming mid-crop. The mid-crop is the smaller of two annual cocoa harvests, which typically start in April. The average estimate for this year's Ivory Coast mid-crop is 400,000 MT, -9% below last year's 440,000 MT.

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