December ICE NY cocoa (CCZ24) Wednesday closed up +25 (+0.36%), and December ICE London cocoa #7 (CAZ24) closed down -148 (-2.90%).
Cocoa prices Wednesday settled mixed, with London cocoa posting a 1-month low. London cocoa sank Wednesday after the European Commission postponed an anti-deforestation law. The legislation, scheduled to go into effect December 30, is aimed at curbing forest clearance in countries that send products, including cocoa, to the EU. The postponement of the law allows certified cocoa stockpiles held at European warehouses to be used to satisfy contracts, reducing concerns that the new law would lead to the decertification of the cocoa and limiting existing cocoa supplies.
