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Rich Asplund

Cocoa Prices Jump to a 1-Week High as Global Supplies Tighten

Ice ICCO Ghana London NY United States

December ICE NY cocoa (CCZ24) today is up +324 (+4.60%), and December ICE London cocoa #7 (CAZ24) is up +254 (+4.96%).

Cocoa prices today jumped sharply to 1-week highs as global cocoa stockpiles tighten. ICE-monitored cocoa inventories held in US ports have been trending lower for the past 15 months and fell to a 15-year low Tuesday of 1,998,398 bags. London cocoa also has support after the British pound (^GBPUSD) fell to a 3-1/2 week low today, boosting cocoa priced in sterling.

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