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Rich Asplund

Favorable West African Weather and Ample Supplies Undercut Cocoa Prices

Ice West Africa Vaisala the Ivory Coast ICCO London NY

May ICE NY cocoa (CCK26) on Thursday closed down -114 (-3.32%), and May ICE London cocoa #7 (CAK26) closed down -79 (-3.18%).

Cocoa prices settled sharply lower on Thursday amid optimism that rain in West Africa will boost cocoa crop yields. Weather forecaster Vaisala said it expects rainfall to continue into next week for most of West Africa, which should support cocoa crop flowering.

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