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Barchart
Barchart
Rich Asplund

Cocoa Prices Sharply Higher on Reduced Ivory Coast Cocoa Exports

July ICE NY cocoa (CCN25) Tuesday closed up +301 (+3.18%), and July ICE London cocoa #7 (CAN25) closed up +151 (+2.39%).

Cocoa prices settled sharply higher on Tuesday due to the slowing pace of Ivory Coast cocoa exports, signaling tighter future cocoa supplies.  Monday's government data showed that Ivory Coast farmers shipped 1.6 MMT of cocoa to ports this marketing year from October 1 to June 1, up +6.7% from last year but down from the much larger +35% increase seen in December.

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