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Barchart
Barchart
Rich Asplund

Cocoa Prices Pressured by Expectations of a Bumper Crop in West Africa

Ice West Africa ICCO Ivory Coast London

December ICE NY cocoa (CCZ25) on Wednesday closed down -204 (-3.09%), and December ICE London cocoa #7 (CAZ25) closed down -189 (-3.97%).

Cocoa prices fell sharply on Wednesday 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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