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Barchart
Rich Asplund

Cocoa Prices Sharply Higher on West African Cocoa Mid-Crop Concerns

Ice West Africa ICCO Rabobank Ghana Hershey Ivory Coast London Mondelez

May ICE NY cocoa (CCK25) Wednesday closed up +791 (+9.67%), and May ICE London cocoa #7 (CAK25) closed up +469 (+7.44%).

Cocoa prices Wednesday surged to 1-month highs on signs of a weak mid-crop cocoa harvest in West Africa.  According to Rabobank, late-arriving rains in the region have limited crop growth, and recent cocoa farmer surveys from the Ivory Coast and Ghana have been disappointing.

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