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Rich Asplund

Cocoa Prices Underpinned by Smaller Cocoa Production in the Ivory Coast

Ice Ivory Coast Ghana ICCO London NY

December ICE NY cocoa (CCZ24) Monday closed up +72 (+0.94%), and December ICE London cocoa #7 (CAZ24) closed up +34 (+0.63%).

Cocoa prices Monday climbed to a 2-1/2 week highs and settled moderately higher. Lower cocoa production in the Ivory Coast, the world's largest producer, is bullish for cocoa prices. Government data Monday showed that Ivory Coast farmers shipped 1.72 MMT of cocoa to ports from October 1 to September 15, down by -28% from the same time last year.

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