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Rich Asplund

Cocoa Prices Retreat on Improved West African Crop Prospects

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

March ICE NY cocoa (CCH26) on Wednesday closed down -39 (-0.66%). March ICE London cocoa #7 (CAH26) closed down -31 (-0.72%).

Cocoa prices tumbled to 1-month lows on Wednesday amid favorable growing conditions in West Africa. Tropical General Investments Group said last Friday that favorable growing conditions in West Africa are expected to boost the February-March cocoa harvest in the Ivory Coast and Ghana, as farmers report larger and healthier pods compared with the same period last year.

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