Cocoa Market Overview: Prices Soar Amid Tight Supplies and Declining Production

Wednesday, 7 August 2024, 18:21

Cocoa prices experienced a significant increase on Wednesday, with September ICE NY cocoa rising by 4.41% and London cocoa by 1.56%. This market rally has resulted in NY cocoa reaching a 1-1/2 month high and London cocoa hitting a 2-week high. The main drivers behind these price jumps include concerns over lower global cocoa production and tightening supplies. As a result, investors are keeping a close watch on the ongoing changes in the cocoa market.
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Cocoa Market Overview: Prices Soar Amid Tight Supplies and Declining Production

Cocoa Prices on the Rise

On Wednesday, cocoa prices surged significantly. September ICE NY cocoa (CCU24) closed up +363 points, marking a rise of 4.41%. Similarly, September ICE London cocoa (CAU24) increased +101 points, a rise of 1.56%.

Market Performance

  • NY cocoa reaches a 1-1/2 month high
  • London cocoa hits a 2-week high
  • Driving factors include lower production and tight supplies

The recent rally in cocoa prices signals a significant shift in market dynamics due to production concerns.


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.


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