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Rich Asplund

Cocoa Prices Jump as Disease Threatens Ivory Coast Crops

Ice ICCO Ivory Coast Disease London NY the Ivory Coast United States

July ICE NY cocoa (CCN23) on Tuesday closed up +45 (+1.52%), and July ICE London cocoa #7 (CAK23) closed up +28 (+1.26%).

Cocoa prices Tuesday moved higher, with NY cocoa posting a 7-year nearest-futures high and London cocoa posting a 2-week high.  Fund buying pushed cocoa prices higher Tuesday after the head of the Ghana Cocoa Marketing Company said the spread of swollen shoot disease threatens cocoa yields in the Ivory Coast.

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