March ICE NY cocoa (CCH25) today is up +92 (+0.80%), and March ICE London cocoa #7 (CAH25) is up +118 (+1.28%).
Cocoa prices today are climbing for the third consecutive session, with NY cocoa posting a 2-week high and London cocoa posting a 1-month high. Crop production concerns in West Africa are underpinning prices as forecaster Maxar Technologies said this year's seasonal Harmattan winds are the driest in six years, worsening crop conditions. Some Ivory Coast and Ghana cocoa farmers have reported that cocoa trees are beginning to suffer the effects of the seasonal dry and dusty Harmattan winds, with leaves turning yellow and the cherelles (cocoa pods) withering.
