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Rich Asplund

Cocoa Prices Retreat as Ivory Coast Hikes its Cocoa Production Estimate

COCOA Ivory Coast ICCO NY London

December ICE NY cocoa (CCZ24) today is down -325 (-4.18%), and December ICE London cocoa #7 (CAZ24) is down -214 (-4.14%).

Cocoa prices today sold off to 1-week lows on the outlook for a larger Ivory Coast cocoa crop.  Ivory Coast regulator Le Conseil Cafe-Cacao raised its Ivory Coast 2024/25 cocoa production estimate by as much as 10% to 2.1 MMT to 2.2 MMT from a June forecast of 2.0 MMT.

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