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Rich Asplund

Ivory Coast Harvest Delays Boost Cocoa Prices

Ivory Coast Ice London NY Ghana

December ICE NY cocoa (CCZ26) is up +0.66 (+1.16%) today, and December ICE London cocoa #7 (CAZ26) is up +15 (+0.35%).

Cocoa prices are moving higher today, with NY cocoa posting a 1-month high and London cocoa posting a 6-week high. Reports that heavy rains in the Ivory Coast are hindering farmer access to cocoa farms just as the harvest begins are supporting prices. Excessive rainfall in the Ivory Coast has cut off roads and damaged bridges, slowing deliveries to ports and keeping farmers from starting the harvest.

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