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Rich Asplund

Cocoa Prices Sink as West African Cocoa Prospects Improve

Ice West Africa ICCO Ivory Coast London

December ICE NY cocoa (CCZ25) today is down -191 (-2.99%), and December ICE London cocoa #7 (CAZ25) closed down -126 (-2.75%).

Cocoa prices are sharply lower for a second day today amid expectations of a bumper cocoa crop in West Africa. Reports from Ivory Coast cocoa farmers stated that cocoa trees are doing well, and recent dry weather helped harvested beans dry, while cocoa farmers in Ghana said favorable weather is allowing cocoa pods to develop quickly.

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