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Cocoa #7 Dec '24 (CAZ24)

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Cocoa #7 Prices for [[ item.sessionDateDisplayLong ]]
Find the latest Cocoa #7 prices and Cocoa #7 futures quotes for all active contracts below.
[[ timeframe ]] futures price quotes as of Wed, May 29th, 2024.
Latest price quotes as of [[ snapshotDate ]].
[[ timeframe ]] futures price quotes, based on [[ timeframe ]] data.
Looking for expired contracts? Check out our Cocoa #7 Historical Prices page.

Cocoa #7 Futures Market News and Commentary

Cocoa Prices Finish Sharply Higher as Ivory Coast Cocoa Production Shrinks

July ICE NY cocoa (CCN24) on Tuesday closed up +486 (+5.86%), and July ICE London cocoa #7 (CAN24) closed up +261 (+3.83%).

Cocoa prices Tuesday surged to 2-week highs.  Lower cocoa production in the Ivory Coast, the world's largest producer, is a major bullish factor for cocoa prices.  Government data Monday showed that Ivory Coast farmers shipped 1.46 MMT of cocoa to ports from October 1 to May 26, down by 30% from the same time last year.  Trader Ecom Agroindustrial projects Ivory Coast 2023/24 cocoa production, which ends in September, will fall -21.5% y/y to an 8-year low of 1.75 MMT.  

Gains in London cocoa were subdued Tuesday after the British pound (^GBPUSD) rallied to a 2-1/4 month high.  The stronger pound undercuts cocoa that is priced in terms of sterling.

Since posting 2-3/4 month lows last Monday, cocoa prices have moved sharply higher after the Hightower Report warned that the lack of fertilizer and pesticide for West African cocoa farmers will hurt... Read more

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