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Rich Asplund

Cocoa Prices Under Pressure as Nigerian Cocoa Exports Jump

Nigeria London Ivory Coast Ghana ICCO NY

December ICE NY cocoa (CCZ24) today is down -93 (-1.19%). September ICE London cocoa #7 (CAU24) is down -80 (-1.40%).

Cocoa prices are moderately lower, with London cocoa posting a 3-month low. An increase in cocoa exports from Nigeria, the world's sixth largest cocoa producer, is weighing on prices after Nigeria's July cocoa exports jumped +31% y/y to 17,456 MT.

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