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Barchart
Barchart
Rich Asplund

Cocoa Prices Close Sharply Higher on West African Crop Concerns

July ICE NY cocoa (CCN24) on Thursday closed up +573 (+7.60%), and July ICE London cocoa #7 (CAN24) closed up +409 (+6.55%).

Cocoa prices rallied sharply Thursday, with NY cocoa posting a 1-1/2 week high and London cocoa posting a 1-week high.  Cocoa has carryover support from Tuesday when the Hightower Report warned that West African cocoa farmers' lack of fertilizer and pesticide use will hurt cocoa production during the 2024/25 season.

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