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Barchart
Barchart
Rich Asplund

NY Cocoa Prices Underpinned by Global Supply Fears

Ice NY Ghana Ivory Coast London West Africa ICCO

September ICE NY cocoa (CCU24) Friday closed up +132 (+1.36%), and September ICE London cocoa #7 (CAU24) closed down -62 (-0.98%).

NY cocoa prices settled mixed on Friday, with NY cocoa posting a 2-month high as dry weather in West Africa could curb the region's cocoa production.  Forecaster Maxar Technologies recently said that top cocoa-producing countries Ivory Coast and Ghana had seen a "significant decrease in shower activity" over the past month, leading to below-normal soil moisture and limited crop growth.

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