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Barchart
Barchart
Rich Asplund

Cocoa Prices Rally on Expectations of Stronger Global Cocoa Demand

Ice London NY ICCO Ivory Coast

Dec ICE NY cocoa (CCZ23) on Monday closed +92 (+2.63%), and Dec ICE London cocoa #7 (CAZ23) closed +70 (+2.26%).

Cocoa prices on Monday rallied sharply, with NY cocoa posting a 3-week high and London cocoa posting an all-time nearest-futures high.  Cocoa prices are climbing on speculation that this week's Q3 grinding reports from North America and Asia will show an improvement in cocoa demand.  Last Thursday, the European Cocoa Association reported that European Q3 cocoa processing fell -0.9% y/y to 366,298 MT, an improvement from the -5.7% y/y decline in Q2.  

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