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Barchart

Rich Asplund

Slowing Ivory Coast Cocoa Exports Support Prices

Ice Ivory Coast ICCO London Ghana Hershey Mondelez NY

May ICE NY cocoa (CCK25) today is up +510 (+5.79%), and May ICE London cocoa #7 (CAK25) is up +340 (+5.59%).

Cocoa prices today rallied sharply to 2-week highs. Recent Ivory Coast cocoa exports have slowed, supporting prices. Today's government data showed that Ivory Coast farmers shipped 1.48 MMT of cocoa to ports this marketing year from October 1 to April 20, up +11.3% from last year but down from the much larger 35% rise seen in December.

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