
March ICE NY cocoa (CCH24) on Tuesday closed +18 (+0.42%), and Mar ICE London cocoa #7 (CAH24) closed -15 (-0.42%).
Cocoa prices on Tuesday settled mixed. Tight cocoa supplies from the Ivory Coast, the world's largest cocoa producer, are supporting prices after Monday's data from the Ivory Coast government showed Ivory Coast farmers shipped 671,544 MT of cocoa to ports from October 1-December 17, down -33% from the same time last year. However, strength in the British pound (^GBPUSD) weighed on London cocoa as the pound on Tuesday rose +0.64% and is just below last Thursday's 3-3/4 month high. A stronger pound undercuts cocoa priced in terms of sterling.