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Rich Asplund

Cocoa Rallies on Reduced Cocoa Output in the Ivory Coast

Ice Ivory Coast the Ivory Coast Ghana NY London ICCO

September ICE NY cocoa (CCU24) today is up +272 (+3.44%), and September ICE London cocoa #7 (CAU24) is up +158 (+2.51%).

Cocoa prices today are sharply higher for a second session, with NY cocoa posting a 1-1/2 week high. Lower cocoa production in the Ivory Coast, the world's largest producer is underpinning cocoa prices. Government data Monday showed that Ivory Coast farmers shipped 1.66 MMT of cocoa to ports from October 1 to August 4, down by -28% from the same time last year.

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