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Barchart
Barchart
Rich Asplund

Cocoa Prices Retreat on the Outlook for Ivory Coast Cocoa Production to Recover

Ice Ivory Coast ICCO Ghana NY London

September ICE NY cocoa (CCU24) today is down -473 (-6.12%), and September ICE London cocoa #7 (CAU24) is down -194 (-3.05%).

Cocoa prices today are sharply lower, with NY cocoa sliding to a 5-week low.  The outlook for Ivory Coast cocoa production to improve is weighing on prices.  Bloomberg reported last Friday that the Ivory Coast is projected to harvest 2 MMT of cocoa in the 2024/25 season that begins Oct 1, citing early pod counting from Ivory Coast cocoa farms, above the 2023/24 Ivory Coast cocoa production estimate of 1.8 MMT.  

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