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Rich Asplund

Cocoa Prices Finish Sharply Higher as ICE Cocoa Inventories Shrink

Ice United States NY Ghana ICCO London

December ICE NY cocoa (CCZ24) Thursday closed up +277 (+4.02%), and December ICE London cocoa #7 (CAZ24) closed up +262 (+5.25%).

Cocoa prices surged Thursday as signs of tighter US cocoa supplies sparked short covering in cocoa futures. ICE-monitored cocoa inventories held in US ports have been trending lower over the past 16 months and fell to a 15-year low Thursday of 2,420,443 bags.

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