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Barchart
Barchart
Rich Asplund

REVEALED: Cocoa prices supported by global supper concerns - The Real Truth

Ice Ivory Coast London Cocoa NY Cocoa CFTC ICCO London

March ICE NY cocoa (CCH25) today is up +330 (+3.12%), and March ICE London cocoa #7 (CAH25) is up +252 (+2.94%).

Cocoa prices today are sharply higher due to the concern that slowing Ivory Coast cocoa exports will tighten global supplies.   While government data today shows Ivory Coast farmers shipped 1.16 MMT of cocoa to ports so far this marketing year, up more than +27% from last year, the pace has narrowed from the 35% rise seen last month.  Today's rally in the dollar index (DXY00) to a 2-year high limited gains in cocoa prices.

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