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Barchart
Barchart
Rich Asplund

Cocoa Rallies on West African Weather Concerns and Tighter ICE Inventories

Ice West Africa ICCO Ivory Coast Ghana London Nigeria United Kingdom

December ICE NY cocoa (CCZ25) on Monday closed up +243 (+3.12%), and September ICE London cocoa #7 (CAU25) did not trade as markets in the UK were closed for a bank holiday.

Cocoa prices rallied sharply on Monday due to concern that cold and dry weather across West Africa's cocoa-producing regions is slowing down plant development in the Ivory Coast and proliferating black pod disease in Ghana and Nigeria.

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