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Barchart
Rich Asplund

Cocoa Prices Surge on Mounting Fears Over West Africa's Cocoa Crop

Ice West Africa ICCO

March ICE NY cocoa (CCH25) today is up +455 (+4.20%), and March ICE London cocoa #7 (CAH25) is up +304 (+3.53%).

Cocoa prices extended their 6-week rally today, with March NY cocoa and Mar London cocoa posting fresh contract highs.  Cocoa prices are surging as the West African cocoa mid-crop outlook has deteriorated.  Maxar Technologies warns that dry conditions in West Africa will hurt the early development of the mid-year cocoa crop harvested in April and that the arrival of the seasonal Harmattan winds could worsen the situation.  

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