December ICE NY cocoa (CCZ26) closed up +289 (+5.37%) on Friday, and December ICE London cocoa #7 (CAZ26) closed up +207 (+5.13%).
Cocoa prices rallied sharply on Friday and posted 2-week highs on positive carryover from Thursday, when Ghana raised the price paid to cocoa farmers for the 2026/27 season. The higher cocoa prices in Ghana could encourage farmers in the Ivory Coast to smuggle beans into Ghana for higher prices, disrupting the flow of cocoa beans into the international market. Cocoa farmers in Ghana will now receive $3,647 a ton for the new harvest that began last Friday, up +2.4% from the last increase in February.