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Rich Asplund

Cocoa Prices Push Higher as Global Cocoa Shortage Lingers

Ice United States ICCO Ivory Coast Deficit Ghana

July ICE NY cocoa (CCN24) on Thursday closed up +271 (+2.57%), and July ICE London cocoa #7 (CAN24) closed up +376 (+4.34%).

Cocoa prices Thursday extended this week's rally and posted 1-1/2 month highs. Concerns that the global cocoa shortage will persist are underpinning prices. Reuters reported Wednesday that Ghana is considering delaying the delivery of up to 350,000 MT of cocoa beans to next season due to the country's poor crops. Ghana is the world's second-largest cocoa producer.

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