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Rich Asplund

Cocoa Prices Underpinned by Tight Ivory Coast Supplies

Ice Ivory Coast NY London ICCO

Sep ICE NY cocoa (CCU23) on Monday closed +7 (+0.21%), and Sep ICE London cocoa #7 (CAU23) closed +16 (+0.74%).

Cocoa prices Monday posted moderate gains, with NY cocoa climbing to a 1-week high.  Reduced cocoa supplies from the Ivory Coast are supportive of cocoa prices after Ivory Coast farmers shipped 2.29 MMT of cocoa from Oct 1-July 16, down -2.6% y/y.  The Ivory Coast is the world's largest cocoa producer.

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