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Barchart
Barchart
Rich Asplund

Cocoa Prices Plunge on Improved Cocoa Crop Prospects in West Africa

Ice West Africa ICCO Ghana Ivory Coast London NY

July ICE NY cocoa (CCN25) today is down -572 (-5.62%), and July ICE London cocoa #7 (CAN25) is down -207 (-3.04%).

Cocoa prices today are sharply lower due to expectations of beneficial rainfall in West Africa, which is expected to improve the prospects for the region's cocoa crop.  Weather forecasts are calling for showers to continue through this week in the Ivory Coast and Ghana, the world's two largest cocoa-producing countries.

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