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Barchart
Rich Asplund

Cocoa Prices Surge as Ivory Coast Cocoa Exports Slow

Ice Ivory Coast ICCO London NY

July ICE NY cocoa (CCN25) today is up +718 (+8.49%), and July ICE London cocoa #7 (CAN25) is up +179 (+3.09%).

Cocoa prices today recovered from early losses and are sharply higher as signs of a slowing pace of Ivory Coast cocoa exports sparked short covering in cocoa futures.  Today's government data showed that Ivory Coast farmers shipped 1.679 MMT of cocoa to ports this marketing year from October 1 to June 22, up +6.9% from last year but down from the much larger +35% increase seen in December.

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