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Barchart
Rich Asplund

Cocoa Prices Surge as Rain Delays West African Cocoa Harvest

West Africa NY ICCO United States

December ICE NY cocoa (CCZ24) Tuesday closed up +327 (+4.29%), and December ICE London cocoa #7 (CAZ24) closed up +149 (+2.64%).

Cocoa prices Tuesday settled sharply higher, with NY cocoa posting a 2-week high.   Cocoa prices are climbing as heavy rain in West Africa has caused flooding and keeps cocoa farmers out of their fields, delaying the harvest.  Also, the heavy rain makes it harder to dry harvested cocoa beans, lowering their quality.

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