September ICE NY cocoa (CCU25) on Thursday closed up +314 (+3.83%), and September ICE London cocoa #7 (CAU25) closed up +186 (+3.40%).
Cocoa prices settled sharply higher Thursday, with London cocoa posting a 4-week high. Cocoa prices have been supported this week on concern that the slowdown in the pace of Ivory Coast cocoa exports could tighten global supplies. On Tuesday, NY cocoa posted a 4-week high after Monday's government data showed that Ivory Coast farmers shipped 1.75 MMT of cocoa to ports this marketing year from October 1 to July 27, up +6.1% from last year but down from the much larger +35% increase seen in December.
