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Rich Asplund

EXPLAINED: Slowing ivory coast cocoa exports boosts prices | Vintage Vibes

Ice Ivory Coast ICCO Hershey London Mondelez

May ICE NY cocoa (CCK25) today is up +340 (+4.38%), and May ICE London cocoa #7 (CAK25) is up +246 (+4.05%).

Cocoa prices today are sharply higher as short covering emerged on concerns about slowing Ivory Coast cocoa exports. Today's government data showed that Ivory Coast farmers shipped 1.43 MMT of cocoa to ports this marketing year from October 1 to March 23, up +12% from last year. However, the pace has fallen from the 35% rise seen in December.

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