Cocoa Prices Witness Significant Surge on Reduced Ivory Coast Cocoa Production
Monday, 15 July 2024, 18:35
Cocoa Prices Surge
Cocoa prices saw a significant surge following reports of reduced cocoa production in the Ivory Coast, a major cocoa producer.
Impressive Gains
In a single trading day, September ICE NY cocoa (CCU24) closed up +274 (+3.29%) while September ICE London cocoa #7 (CAU24) was up +209 (+3.06%).
- Rally on Reduced Production: Market rallied sharply on lower cocoa production from the world's largest producer, the Ivory Coast.
The market responded positively to the news, resulting in a notable uptick in cocoa prices for the day.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.