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Barchart
Barchart
Rich Asplund

Cocoa Prices Rise as the Pace of Ivory Coast Cocoa Exports Slows

July ICE NY cocoa (CCN25) Friday closed up +261 (+2.86%), and May ICE London cocoa #7 (CAK25) closed up +104 (+1.63%).

Cocoa prices on Friday extended this week's rally, with NY cocoa posting a 2-1/4 month high.  Supply concerns are boosting cocoa prices as the pace of Ivory Coast cocoa exports has slowed.  Tuesday's government data showed that Ivory Coast farmers shipped 1.48 MMT of cocoa to ports this marketing year from October 1 to April 20, up +11.3% from last year but down from the much larger 35% increase seen in December.

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