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Rich Asplund

Cocoa Prices Underpinned by Tight Ivory Coast Supplies

Ice Ivory Coast ICCO Mar ICE Mar London Deficit the Ivory Coast Ghana

March ICE NY cocoa (CCH24) on Monday closed +27 (+0.64%), and Mar ICE London cocoa #7 (CAH24) closed +14 (+0.39%).

NY cocoa prices on Monday settled moderately higher, with Mar London cocoa posting a contract high.  Tight cocoa supplies from the Ivory Coast, the world's largest cocoa producer, are supporting prices after Monday's data from the Ivory Coast government showed Ivory Coast farmers shipped 671,544 MT of cocoa to ports from October 1-December 17, down -33% from the same time last year.

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