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Rich Asplund

NY Cocoa Prices Consolidate Below a 12-Year High

Ice NY Nigeria London

Sep ICE NY cocoa (CCU23) on Friday closed -4 (-0.11%), and Sep ICE London cocoa #7 (CAU23) closed +4 (+0.15%).

Cocoa prices Thursday settled mixed. Smaller cocoa supplies from Nigeria are bullish for cocoa prices after Friday's news showed Nigeria's Jun cocoa exports fell -8.5% y/y to 12,245 tons. Nigeria is the world's fifth-largest cocoa bean producer.

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