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Rich Asplund

MYSTERIOUS: Cocoa prices rebound as low prices spur demand - You Need To See This

Ice ICCO Ivory Coast London Ghana Nigeria NY United States

December ICE NY cocoa (CCZ25) today is up +67 (+0.96%), and December ICE London cocoa #7 (CAZ25) is up +33 (+0.68%).

Cocoa prices are climbing today on signs that recent low prices have started to spur demand from commercial buyers and end users.Also, tighter cocoa inventories are supportive for prices after ICE-monitored cocoa inventories held in US ports fell to a 4.75-month low of 2,002,814 bags on Tuesday. In related news, Nigeria reported that its July cocoa exports fell 22% y/y to 13,579 MT.

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