September ICE NY cocoa (CCU25) on Monday closed up +110 (+1.35%), and September ICE London cocoa #7 (CAU25) closed up +71 (+1.23%)
Cocoa prices moved sharply higher Monday on signs of a slowdown in Ivory Coast cocoa exports. Monday's government data showed that Ivory Coast farmers shipped 1.73 MMT of cocoa to ports this marketing year from October 1 to July 13, up +6.8% from last year but down from the much larger +35% increase seen in December. There are reports that heavy rain in the Ivory Coast is keeping cocoa growers off their farms and is disrupting the ongoing mid-crop cocoa harvest.
