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Barchart
Rich Asplund

Cocoa Prices Soar on a Weak Dollar and Tighter Global Cocoa Supplies

COCOA Ice Barry Callebaut ICCO Ivory Coast London

December ICE NY cocoa (CCZ24) Thursday closed up +436 (+6.30%), and December ICE London cocoa #7 (CAZ24) closed up +329 (+5.99%).

Cocoa prices surged on Thursday as a decline in the dollar sparked short covering in cocoa futures.  Also, comments Thursday from the CEO of Barry Callebaut, one of the world's largest chocolate producers, lifted cocoa prices when he said that while cocoa crops in West Africa are showing "significant improvement versus last year," they are still not at levels seen in the 2022/23 season.

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