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Barchart
Rich Asplund

Cocoa Prices Plunge on Robust Supplies Amid Weak Demand

Ice United States ICCO Ivory Coast West Africa London

December ICE NY cocoa (CCZ25) today is down -302 (-5.74%), and December ICE London cocoa #7 (CAZ25) is down -238 (-5.87%).

Cocoa prices plunged to 1.75-year nearest-futures lows today amid expectations of a bumper cocoa crop in West Africa.  Reports from Ivory Coast cocoa farmers stated that cocoa trees are doing well, and recent dry weather helped harvested beans dry, while cocoa farmers in Ghana said favorable weather is allowing cocoa pods to develop quickly.  

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