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Rich Asplund

Concerns About the Ivory Coast Mid-Crop Boosts Cocoa Prices

Ice Ivory Coast ICCO London Hershey Mondelez NY

May ICE NY cocoa (CCK25) today is up +144 (+1.80%), and May ICE London cocoa #7 (CAK25) is up +90 (+1.46%).

Cocoa prices today are moderately higher on short-covering due to concern about the Ivory Coast's upcoming mid-crop, which is the smaller of two annual harvests, which typically start in April. Estimates for this year's Ivory Coast mid-crop are 400,000 MT, -9% below last year's 440,000 MT.

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