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Barchart
Rich Asplund

Cocoa Prices Rebound on Smaller Ivory Coast Cocoa Shipments

Ice Ivory Coast Ghana United States ICCO London

September ICE NY cocoa (CCU24) today is up +369 (+4.91%), and September ICE London cocoa #7 (CAU24) is up +260 (+4.32%).

Cocoa prices today recovered from 1-month lows and are sharply higher.  Short-covering emerged today to push cocoa prices higher on lower cocoa production in the Ivory Coast, the world's largest producer.  Government data today showed that Ivory Coast farmers shipped 1.66 MMT of cocoa to ports from October 1 to August 4, down by -28% from the same time last year.  

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