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Barchart
Barchart
Rich Asplund

Cocoa Prices Finish Sharply Higher on Supply Woes

March ICE NY cocoa (CCH25) Monday closed up +358 (+3.39%), and March ICE London cocoa #7 (CAH25) closed up +267 (+3.11%).

Cocoa prices settled sharply higher on Monday due to the concern that slowing Ivory Coast cocoa exports will tighten global supplies.   While government data Monday showed Ivory Coast farmers shipped 1.16 MMT of cocoa to ports so far this marketing year, up more than +27% from last year, the pace has narrowed from the 35% rise seen last month.  Monday's rally in the dollar index (DXY00) to a 2-year high limited gains in cocoa prices.

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