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Rich Asplund

Cocoa Rallies as the Pace of Ivory Coast Cocoa Exports Slows

COCOA Ivory Coast Ice London Cocoa NY Cocoa Ghana ICCO London

March ICE NY cocoa (CCH25) today is up +130 (+1.16%), and March ICE London cocoa #7 (CAH25) is up +30 (+0.33%).

Cocoa prices today are moving higher and posted 1-week highs on concern slowing Ivory Coast cocoa exports will tighten global supplies. While government data shows Ivory Coast farmers shipped 1.11 MMT of cocoa to ports so far this marketing year, up more than +27% from last year, the pace has narrowed from a 35% gap seen last month.

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