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Barchart
Rich Asplund

Cocoa Prices Underpinned by Concern Global Cocoa Shortage to Persist

Ice ICCO Ivory Coast Deficit Ghana

July ICE NY cocoa (CCN24) today is up +243 (+2.31%), and July ICE London cocoa #7 (CAN24) is up +364 (+4.20%).

Cocoa prices today extended this week's rally and posted 1-1/2 month highs.  Concerns that the global cocoa shortage will persist are underpinning prices.  Reuters reported Wednesday that Ghana is considering delaying the delivery of up to 350,000 MT of cocoa beans to next season due to the country's poor crops.  Ghana is the world's second-largest cocoa producer.

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