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Rich Asplund

Recovery in ICE Cocoa Inventories Weighs on Prices

Ice ICCO London Hershey Mondelez

May ICE NY cocoa (CCK25) Tuesday closed down -128 (-1.52%), and May ICE London cocoa #7 (CAK25) closed down -125 (-1.91%).

Cocoa prices on Tuesday posted moderate losses, weighed down by a recovery in cocoa inventories. Since falling to a 21-year low of 1,263,493 bags on January 24, ICE-monitored cocoa inventories held in US ports have rebounded and climbed to a 3-1/4 month high of 1,530,893 bags on Monday.

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