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Barchart
Barchart
Rich Asplund

Quality Concerns of the Ivory Coast Mid-Crop Boosts Cocoa Prices

Ice Ivory Coast the Ivory Coast ICCO London NY

July ICE NY cocoa (CCN23) on Friday closed up +77 (+2.57%), and July ICE London cocoa #7 (CAK23) closed up +66 (+2.83%).

Cocoa prices Friday rallied sharply to contract highs.  Quality concerns of the Ivory Coast mid-crop are supporting cocoa prices.  Farmers have reported poor cocoa quality, with cocoa bean counts averaging 120 for every 100 grams.  Exporters prefer counts of 80 to 100 for every 100 grams, with the best cocoa quality having the lower bean count.

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