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Barchart
Barchart
Rich Asplund

Cocoa Prices Surge as European Cocoa Demand Unexpectedly Accelerates

Ice Ivory Coast Ghana ICCO the European Cocoa Association London

September ICE NY cocoa (CCU24) today is up +441 (+5.46%), and September ICE London cocoa #7 (CAU24) is up +337 (+5.04%).

Cocoa prices today rallied sharply to 2-week highs.  Signs of strong cocoa demand, despite record-high prices, are propelling cocoa prices higher today.  The European Cocoa Association reported today that Q2 European cocoa grindings unexpectedly rose +4.1% y/y to 357,502 MT, versus expectations of a -2% y/y decline.  

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