
September ICE NY cocoa (CCU25) on Wednesday closed up +286 (+3.54%), and September ICE London cocoa #7 (CAU25) closed up +145 (+2.69%)
Cocoa prices rallied sharply on Wednesday as a shortage of cocoa powder has chocolate makers scrambling to secure supplies. KnowledgeCharts stated that pricey cocoa beans are reducing margins for cocoa processors worldwide, and the shift away from expensive cocoa butter is diminishing the financial incentive to grind more cocoa, resulting in less cocoa powder.