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Barchart
Barchart
Rich Asplund

Cocoa Prices Surge on West African Cocoa Quality Concerns

Ice West Africa Ghana

December ICE NY cocoa (CCZ26) closed up +342 (+5.87%) on Thursday, and September ICE London cocoa #7 (CAU26) closed up +239 (+5.76%).

Cocoa prices rallied sharply on Thursday and posted 3-week highs on concern about the quality of this year’s West African cocoa crops. The lack of sunshine in the Ivory Coast and Ghana is allowing black pod disease to spread, lowering cocoa bean quality.

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