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Rich Asplund

Cocoa Prices Settle Higher on Ivory Coast Harvest Delays

Ivory Coast Ice London NY Ghana

December ICE NY cocoa (CCZ26) closed up +0.57 (+1.00%) on Tuesday, and December ICE London cocoa #7 (CAZ26) closed up +13 (+0.30%).

Cocoa prices moved higher on Tuesday, with NY cocoa posting a 1-month high and London cocoa a 6-week high. Reports that heavy rains in the Ivory Coast are hindering farmer access to cocoa farms just as the harvest begins are supporting prices. Excessive rainfall in the Ivory Coast has cut off roads and damaged bridges, slowing deliveries to ports and keeping farmers from harvesting.

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