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Rich Asplund

Cocoa Prices Recover Some of Their Recent Plunge

Ice Ivory Coast London

July ICE NY cocoa (CCN24) on Tuesday closed up +178 (+2.47%), and July ICE London cocoa #7 (CAN24) closed up +123 (+2.05%).

Cocoa prices Tuesday posted moderate gains on concerns that recent losses have been excessive. Short covering in cocoa futures emerged Tuesday after the Hightower Report warned that West African cocoa farmers' lack of fertilizer and pesticide use will hurt output during the 2024/25 season.

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