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Barchart
Barchart
Rich Asplund

NY Cocoa Prices Rise on Smaller Ivory Coast Cocoa Supplies

Ice Ivory Coast NY ICCO London the Ivory Coast

July ICE NY cocoa (CCN23) on Tuesday closed up +14 (+0.47%), and July ICE London cocoa #7 (CAK23) closed down -10 (-0.42%).

Cocoa prices Tuesday settled mixed, with London cocoa falling to a 1-week low.  Smaller cocoa supplies from the Ivory Coast are bullish for prices after the Ivory Coast government reported Monday that farmers sent a cumulative 2.09 MMT of cocoa to Ivory Coast ports for the 2022/23 marketing year (October 1 through May 28), down -3.0% y/y.  The Ivory Coast is the largest cocoa producer in the world.  

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