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Rich Asplund

Cocoa Prices Push Higher as Ivory Coast Cocoa Exports Slow

Ice Ivory Coast United States ICCO London Ghana Nigeria NY

December ICE NY cocoa (CCZ25) on Monday closed up +90 (+1.30%), and December ICE London cocoa #7 (CAZ25) closed up +31 (+0.64%).

Cocoa prices rose on Monday, gaining support from signs of a slowdown in the pace of cocoa exports from the Ivory Coast, the world's largest cocoa producer.  Monday's government data showed that Ivory Coast farmers shipped 1.82 MMT of cocoa to ports this marketing year from October 1 to September 28, up +3.4% from last year but down sharply from the much larger +35% increase seen in December.

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