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Rich Asplund

Cocoa Prices Jump on West African Crop Concerns

Ice West Africa Ivory Coast London Cocoa NY Cocoa Ghana CFTC ICCO London

March ICE NY cocoa (CCH25) today is up +324 (+2.90%), and March ICE London cocoa #7 (CAH25) is up +208 (+2.31%).

Cocoa prices today jumped to 2-week highs and are sharply higher on crop production concerns in West Africa. Some Ivory Coast and Ghana cocoa farmers have reported that cocoa trees are beginning to suffer the effects of the seasonal dry and dusty Harmattan winds, with leaves turning yellow and the cherelles (cocoa pods) withering.

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