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Rich Asplund

Smaller Cocoa Deliveries to Ivory Coast Ports Boost Cocoa Prices

Ice Ivory Coast ICCO NY European Union the Ivory Coast London the International Cocoa Organization

March ICE NY cocoa (CCH26) on Monday closed up +206 (+3.51%). March ICE London cocoa #7 (CAH26) closed up +109 (+2.57%).

Cocoa prices rallied sharply on Monday on signs of smaller cocoa supplies from the Ivory Coast. Monday's cumulative data shows Ivory Coast farmers shipped 1.073 MMT of cocoa to ports this new marketing year (October 1 through January 4), down -3.3% from 1.11 MMT in the same period a year ago. The Ivory Coast is the world's largest cocoa producer.

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