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Barchart
Barchart
Rich Asplund

Cocoa Prices Surge on Dollar Weakness and West African Crop Concerns

Ice Barry Callebaut West Africa ICCO Ivory Coast London

December ICE NY cocoa (CCZ24) today is up +436 (+6.30%), and December ICE London cocoa #7 (CAZ24) is up +336 (+6.11%).

Cocoa prices today rallied sharply as a decline in the dollar sparked short covering in cocoa futures.  Also, comments today 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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