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Barchart
Barchart
Rich Asplund

Cocoa Prices Settle Sharply Higher on Signs of Recovering Demand

September ICE NY cocoa (CCU26) on Thursday closed up +403 (+6.66%), and September ICE London cocoa #7 (CAU26) closed up +312 (+6.94%).

Cocoa prices extended their parabolic rally on Thursday, with NY cocoa hitting a 6-month high and London cocoa hitting a 9.25-month high. Cocoa prices surged on Thursday after Barry Callebaut AG, the world’s largest cocoa processor, signaled recovering demand. Barry Callebaut AG reported on Thursday that fiscal Q3 sales volumes rose by 5.7%, the first increase in more than 2 years.

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