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Rich Asplund

Cocoa Prices Supported by West African Crop Concerns

Ice Ivory Coast ICCO London NY

July ICE NY cocoa (CCN24) on Friday closed up +185 (+2.28%), and July ICE London cocoa #7 (CAN24) closed up +167 (+2.51%).

Cocoa prices Friday added to Thursday's sharp gains and posted 1-1/2 week highs. Since posting 2-1/2 month lows on Monday, cocoa prices have recovered after the Hightower Report warned that West African cocoa farmers' lack of fertilizer and pesticide use will hurt cocoa production during the 2024/25 season.

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