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Rich Asplund

Cocoa Prices Push Higher on Smaller Ivory Coast Cocoa Supplies

Ice Ivory Coast ICCO United States London King Charles III NY United Kingdom

July ICE NY cocoa (CCN23) on Monday closed up +21 (+0.72%), and July ICE London cocoa #7 (CAK23) did not trade with markets closed in the UK for the king's coronation.

Cocoa prices Monday closed moderately higher.  Smaller cocoa supplies from the Ivory Coast are bullish for prices after the Ivory Coast government reported Monday that farmers sent a cumulative 1.97 MMT of cocoa to Ivory Coast ports for the 2022/23 marketing year (October 1 through May 7), down -4.6% y/y.  The Ivory Coast is the largest cocoa producer in the world.  

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