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Rich Asplund

Cocoa Prices Jump as Chocolate Demand Remains Steady

Ice London Ivory Coast NY Ghana ICCO StoneX

July ICE NY cocoa (CCN26) on Thursday closed up +159 (+4.66%), and May ICE London cocoa #7 (CAK26) closed up +104 (+4.13%).

Cocoa prices rallied sharply on Thursday, with NY cocoa posting a 2-week high and London cocoa posting a 2.5-month high. Signs that consumer demand for chocolate remains resilient are pushing cocoa prices higher. Better-than-earnings results this week from top chocolate makers Hershey and Mondelez International show consumer chocolate demand remains steady despite high prices.

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