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Barchart
Barchart
Rich Asplund

Cocoa Prices Rise on Concern Over West African Cocoa Quality

Ice NY West Africa Ghana United Kingdom

December ICE NY cocoa (CCZ26) closed up +123 (+1.85%) on Monday, and September ICE London cocoa #7 (CAU26) did not trade, with markets in the UK closed for a holiday.

NY cocoa extended its sharp three-session rally on Monday and posted an 11-month high. Concerns about the quality of this year’s West African cocoa crops are underpinning cocoa prices. Cloudy weather and limited sunshine in the Ivory Coast and Ghana are allowing black pod disease to spread, lowering cocoa bean quality.

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