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Barchart
Rich Asplund

Cocoa Prices Plummet on Improved Prospects for West African Cocoa Crop

Ice West Africa ICCO Ivory Coast London Ghana NY

July ICE NY cocoa (CCN25) today is down -434 (-4.22%), and July ICE London cocoa #7 (CAN25) is down -455 (-6.41%).

Cocoa prices today plummeted to 1-1/2 week lows as forecasts for favorable rain in West Africa are expected to aid cocoa crop development in the world's largest cocoa-growing regions.  Meteorologist Vaisala said that moderate showers are expected to continue into next week in the cocoa-growing regions of West Africa.

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