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Barchart
Barchart
Rich Asplund

Cocoa Rallies on Robust European Cocoa Demand

Ice ICCO United States NY London Ivory Coast

May ICE NY cocoa (CCK23) on Thursday closed up +48 (+1.62%), and May ICE London cocoa #7 (CAK23) closed up +27 (+1.25%).

Cocoa prices Thursday closed moderately higher, with NY cocoa posting a 2-1/3 year nearest-futures high and London cocoa posting a 6-1/3 year high.  Signs of improved cocoa demand pushed prices higher Thursday after the European Cocoa Association reported that European Q1 cocoa grindings rose +0.5% y/y to 375,375 MT, the highest for a Q1 since 1999.    

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