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Rich Asplund

Cocoa Prices Retreat as the Supply Outlook Improves

Ice ICCO Ivory Coast West Africa

December ICE NY cocoa (CCZ25) on Thursday closed down -211 (-3.30%), and December ICE London cocoa #7 (CAZ25) closed down -141 (-3.08%).

Cocoa prices settled sharply lower for a second day on Thursday amid expectations of a bumper cocoa crop in West Africa. Reports from Ivory Coast cocoa farmers stated that cocoa trees are doing well, and recent dry weather helped harvested beans dry, while cocoa farmers in Ghana said favorable weather is allowing cocoa pods to develop quickly.

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