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Rich Asplund

Cocoa Prices Rally as Heavy Rains Slow Deliveries in the Ivory Coast

Ice Ivory Coast Ghana London

December ICE NY cocoa (CCZ26) closed up +197 (+3.47%) on Monday, and December ICE London cocoa #7 (CAZ26) closed up +143 (+3.37%).

Cocoa prices rallied sharply for a second session on Monday and posted 2-week highs. Supply concerns are underpinning cocoa prices on reports that excessive rainfall in the Ivory Coast has cut off roads and damaged bridges, slowing cocoa deliveries to ports.

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