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Rich Asplund

Cocoa Prices Settle Sharply Lower on Ample Supplies and Tepid Demand

Ice Ivory Coast Ghana

December ICE NY cocoa (CCZ26) closed down -118 (-2.07%) on Wednesday, and December ICE London cocoa #7 (CAZ26) closed down -57 (-1.35%).

Cocoa prices settled sharply lower for the second day on Wednesday, pressured by rising ICE cocoa inventories. ICE cocoa inventories rose to a 2.25-year high of 3,549,555 bags on Wednesday.

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