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Rich Asplund

Cocoa Prices Rally Sharply as Cocoa Production Falls in Ivory Coast

Ice Ivory Coast London Ghana ICCO NY the Ivory Coast

December ICE NY cocoa (CCZ24) today is up +389 (+5.49%), and December ICE London cocoa #7 (CAZ24) is up +233 (+4.43%).

Cocoa prices today are sharply higher, with London cocoa posting a 1-1/2 week high. Lower cocoa production in the Ivory Coast, the world's largest producer, is bullish for cocoa prices. Government data today showed that Ivory Coast farmers shipped 1.71 MMT of cocoa to ports from October 1 to September 8, down by -28% from the same time last year.

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