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Rich Asplund

Cocoa Prices Settle Mixed as Ivory Coast Cocoa Output Improves

COCOA Ice Ivory Coast NY London ICCO

December ICE NY cocoa (CCZ24) Monday closed down -56 (-0.75%), and December ICE London cocoa #7 (CAZ24) closed up +25 (+0.45%).

Cocoa prices Monday settled mixed, with NY cocoa posting a fresh 1-week low.  Increased cocoa production in the Ivory Coast is bearish for prices after Monday's government data showed that Ivory Coast farmers shipped 192,804 MT of cocoa to ports from October 1 to October 20, up +12.9% from 170,794 MT shipped the same time last year.  The Ivory Coast is the world's largest cocoa producer.  

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