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Barchart
Rich Asplund

Cocoa Prices Slump as Ivory Coast and Ghana Boost Farmer Pay for Cocoa Beans

Ice Ghana Ivory Coast ICCO London NY

December ICE NY cocoa (CCZ25) today is down -190 (-2.85%), and December ICE London cocoa #7 (CAZ25) is down -173 (-3.69%).

This week's plunge in cocoa prices continues today, with NY cocoa posting a 19-month nearest-futures low and London cocoa posting a 20-month low.  Cocoa prices are retreating as this week's actions by the governments of the Ivory Coast and Ghana to boost the amount they pay farmers for their cocoa beans may encourage sales and boost cocoa supplies.

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