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Barchart
Barchart
Rich Asplund

Cocoa Prices Jump on Dry Weather Concerns for West Africa

Ice West Africa ICCO London Ivory Coast Europe Ghana NY

September ICE NY cocoa (CCU25) today is up +198 (+2.44%), and September ICE London cocoa #7 (CAU25) is up +125 (+2.34%).

Cocoa prices today are sharply higher due to concerns about dry weather in West Africa.  According to the European Centre for Medium-Range Weather Forecasts, rainfall in the Ivory Coast and Ghana this season remains below the 30-year average, and combined with high temperatures, risks hurting cocoa pod development for the main crop harvest that starts in October.

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