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Rich Asplund

Cocoa Rallies as Wet Weather in West Africa May Spread Disease to Cocoa Crops

Ice West Africa Disease Ghana Ivory Coast United States London

September ICE NY cocoa (CCU24) today is up +488 (+6.32%), and September ICE London cocoa #7 (CAU24) is up +272 (+4.30%).

Cocoa prices today are sharply higher and recovered Monday's losses. Cocoa prices are rallying today as increasing rains in West Africa are leaving cocoa plantations more susceptible to disease and forcing farmers to acquire chemicals to protect them. The high price of chemicals is slowing down crop spraying and allowing Black Pod disease to resurface.

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