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Barchart
Rich Asplund

Cocoa Prices Surge on Lower Global Production and Tight Supplies

Ice Ghana London Ivory Coast NY ICCO

September ICE NY cocoa (CCU24) today is up +642 (+7.81%), and September ICE London cocoa #7 (CAU24) is up +298 (+4.59%).

Cocoa prices today have extended this week's sharp rally, with NY cocoa posting a 1-1/2 month high and London cocoa posting a 2-week high.  Lower cocoa production in the Ivory Coast, the world's largest producer, underpins cocoa prices.  Government data Monday showed that Ivory Coast farmers shipped 1.66 MMT of cocoa to ports from October 1 to August 4, down by -28% from the same time last year.  

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