September ICE NY cocoa (CCU25) today is up +309 (+3.77%), and September ICE London cocoa #7 (CAU25) is up +186 (+3.40%).
Cocoa prices are sharply higher today, with London cocoa posting a 4-week high. Cocoa prices have been supported this week on concern that the slowdown in the pace of Ivory Coast cocoa exports could tighten global supplies. On Tuesday, NY cocoa posted a 4-week high after Monday's government data showed that Ivory Coast farmers shipped 1.75 MMT of cocoa to ports this marketing year from October 1 to July 27, up +6.1% from last year but down from the much larger +35% increase seen in December.
