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Barchart
Rich Asplund

Cocoa Prices Surge on Ivory Coast Mid-Crop Concerns

Ice Ivory Coast ICCO London

July ICE NY cocoa (CCN25) today is up +819 (+9.01%), and July ICE London cocoa #7 (CAN25) is up +4217 (+6.33%).

Cocoa prices today are sharply higher and posted 2-1/2 month highs.  Cocoa prices are higher on quality concerns regarding the Ivory Coast cocoa mid-crop, which is currently being harvested.  Cocoa processors are complaining about the crop's quality and have rejected truckloads of Ivory Coast cocoa beans.  Processors said about 5% to 6% of the mid-crop cocoa in each truckload is poor quality, compared with 1% during the main crop.

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