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Barchart
Barchart
Rich Asplund

Unexpected Strength in North American Cocoa Demand Boosts Prices

September ICE NY cocoa (CCU26) on Friday closed up +171 (+3.19%), and September ICE London cocoa #7 (CAU26) closed up +118 (+2.97%).

Cocoa prices settled sharply higher on Friday as short covering emerged after North American Q2 cocoa grindings unexpectedly increased. The National Confectioners Association reported late Thursday that Q2 North American cocoa grindings unexpectedly rose +7.7% y/y to 109,659 MT, well above expectations of a -1% y/y decline, easing cocoa demand fears.

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