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Rich Asplund

Cocoa Prices Surge on Fears of a Prolonged Supply Shortage

Ice ICCO Ghana Ivory Coast Deficit

July ICE NY cocoa (CCN24) today is up +662 (+6.68%), and July ICE London cocoa #7 (CAN24) is up +556 (+6.85%).

Cocoa prices today rallied sharply to 6-week highs. Cocoa prices are sharply higher on concern about a prolonged shortage of cocoa supplies after Reuters reported today that Ghana is considering delaying the delivery of up to 350,000 MT of cocoa beans to next season due to the country's poor crops. Ghana is the world's second-largest cocoa producer.

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