March ICE NY cocoa (CCH25) Tuesday closed down -167 (-1.47%), and March ICE London cocoa #7 (CAH25) closed down -21 (-0.23%).
Cocoa prices posted moderate losses on Tuesday as a stronger dollar (DXY00) sparked long liquidation in cocoa futures. On Monday, cocoa prices climbed to 1-week highs on concern slowing Ivory Coast cocoa exports will tighten global supplies. While government data shows Ivory Coast farmers shipped 1.11 MMT of cocoa to ports so far this marketing year, up more than +27% from last year, the pace has narrowed from the 35% boost seen last month.
