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Rich Asplund

Cocoa Prices Retreat on Beneficial West African Weather

Ice West Africa Africa ICCO European Union London the International Cocoa Organization

March ICE NY cocoa (CCH26) today on Tuesday closed down -101 (-1.82%), and March ICE London cocoa #7 (CAH26) closed down -57 (-1.39%).

Cocoa prices retreated on Tuesday, as favorable weather forecasts in West Africa are expected to improve yields and boost supplies. Cocoa farmers in the Ivory Coast are reporting that a mix of rain and sunshine is helping cocoa trees bloom, and farmers in Ghana said rains have been regular and helpful to cocoa tree and pod development ahead of the harmattan season.

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