
May ICE NY cocoa (CCK26) today is up +116 (+4.02%), and May ICE London cocoa #7 (CAK26) is up +60 (+2.92%).
Cocoa prices recovered from early losses and are sharply higher today amid concerns that higher shipping costs will curb cocoa exports and limit supplies. The war in Iran has halted most shipping traffic through the Strait of Hormuz, boosting global shipping rates, insurance, and fuel costs, which will raise cocoa importers' costs.