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Barchart
Barchart
Rich Asplund

Cocoa Prices Pressured by Abundant Supplies

Ice Ghana

December ICE NY cocoa (CCZ26) closed up +2 (+0.03%) on Wednesday, and September ICE London cocoa #7 (CAU26) closed down -4 (-0.10%).

Cocoa prices settled little changed on Wednesday. Prices have been under pressure this week on signs of abundant global cocoa supplies. Last Friday, Bloomberg reported that Nigeria’s July cocoa bean exports rose +18% y/y to 16,052 MT. Nigeria is the world's fifth-largest cocoa producer.

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