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Rich Asplund

Cocoa Prices Sharply Higher on Tepid Rains in the Ivory Coast

Ice Ivory Coast Ghana London West Africa Ghana Cocoa Board NY

December ICE NY cocoa (CCZ26) closed up +126 (+2.33%) on Wednesday, and December ICE London cocoa #7 (CAZ26) closed up +130 (+3.25%).

Cocoa prices settled sharply higher on Wednesday amid weather concerns in West Africa. Forecasts for below-normal rains in the Ivory Coast over the next week could stress crops and reduce cocoa output in the 2026/27 crop season. Gains in London cocoa accelerated on Wednesday after the British pound (^GBPUSD) tumbled to a 2.5-month low. The weaker pound boosts cocoa that is priced in sterling.

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