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Rich Asplund

Cocoa Prices Post Moderate Gains on Tight Global Supplies

Ice Ivory Coast Ghana ICCO NY

December ICE NY cocoa (CCZ24) Friday closed up +58 (+0.76%), and December ICE London cocoa #7 (CAZ24) closed up +58 (+1.10%).

Cocoa prices Friday posted moderate gains. Lower cocoa production in the Ivory Coast, the world's largest producer, is bullish for cocoa prices. Government data Wednesday showed that Ivory Coast farmers shipped 1.69 MMT of cocoa to ports from October 1 to August 25, down by -28% from the same time last year.

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