Get all your news in one place.
100's of premium titles.
One app.
Start reading
Barchart
Barchart
Rich Asplund

Cocoa Prices Race Higher on Supply Fears

July ICE NY cocoa (CCN26) today is up +324 (+9.01%), and July ICE London cocoa #7 (CAN26) is not trading with markets in the UK closed for the May Day holiday.

Cocoa prices are sharply higher today, with NY cocoa posting a 2-week high.  The prolonged closure of the Strait of Hormuz is disrupting global cocoa supplies and is also a supportive factor for prices.  The closure of the strait supports cocoa prices by reducing fertilizer supplies, boosting global shipping rates, insurance costs, and fuel prices, thereby raising cocoa importers' costs.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.