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Rich Asplund

Cocoa Prices Rally on Fears of Tighter Global Supplies

Ice ICCO Ivory Coast Ghana London NY

July ICE NY cocoa (CCN25) today is up +147 (+1.46%), and July ICE London cocoa #7 (CAN25) is up +178 (+2.69%).

Cocoa prices today extended this week's rally to 2-week highs due to the slowing pace of Ivory Coast cocoa exports, signaling tighter future cocoa supplies.  Monday's government data showed that Ivory Coast farmers shipped 1.6 MMT of cocoa to ports this marketing year from October 1 to June 1, up +6.7% from last year but down from the much larger +35% increase seen in December.

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