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Rich Asplund

Cocoa Prices Surge as ICCO Cuts Global Cocoa Production and Surplus Estimates

Ice ICCO United States the International Cocoa Organization European Union London

March ICE NY cocoa (CCH26) on Friday closed up +411 (+8.07%), and December ICE London cocoa #7 (CAZ25) closed up +164 (+4.34%).

Cocoa prices rallied sharply on Friday and posted 1-week highs. Cocoa price surged on Friday after the International Cocoa Organization (ICCO) cut its global 2024/25 cocoa surplus estimate to 49,000 MT from a previous estimate of 142,000 MT and lowered its global 2024/25 cocoa production estimate to 4.69 MMT from a prior estimate of 4.84 MMT.

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