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Barchart
Rich Asplund

Cocoa Prices Settle Higher on Dollar Weakness and Cocoa Supply Concerns

Ice Deficit ICCO Rabobank Mar NY Ghana London

March ICE NY cocoa (CCH24) on Thursday closed +74 (+1.79%), and Mar ICE London cocoa #7 (CAH24) closed +87 (+2.54%).

Cocoa prices Thursday posted moderate gains as a weaker dollar supported prices.  Cocoa also had a positive carryover from Wednesday when Rabobank projected a 2023/24 global cocoa deficit of -160,000 MT due to output declines in the Ivory Coast and Ghana.

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