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Barchart
Rich Asplund

Cocoa Prices Sink on Robust Supplies and Tepid Demand

Ice United States ICCO NY Ivory Coast London Ghana

December ICE NY cocoa (CCZ25) today is down -78 (-1.31%), and December ICE London cocoa #7 (CAZ25) is down -42 (-1.00%).

Cocoa prices extended this week's slump today, with NY cocoa sinking to a 20-month nearest-futures low.  Cocoa prices remain under pressure after the governments of the Ivory Coast and Ghana increased the amount they pay farmers for their cocoa beans last week, which is expected to boost sales and cocoa supplies.

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