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Rich Asplund

Cocoa Prices Pressured by Favorable Crop Conditions in West Africa

On Ice the Ivory Coast ICCO London

May ICE NY cocoa (CCK26) today is down -4 (-0.13%), and May ICE London cocoa #7 (CAK26) is down -2 (-0.09%).

Cocoa prices today added to this week's losses and posted 2.5-week lows. The outlook for a bumper West African cocoa crop is undercutting prices as farmers in the Ivory Coast and Ghana have reported that consistent rains have boosted pod development on cocoa trees.

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