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Rich Asplund

Supply Fears Push Cocoa Price Higher

Ice the Ivory Coast Ghana ICCO London the Strait of Hormuz

July ICE NY cocoa (CCN26) today is up +84 (+2.55%), and May ICE London cocoa #7 (CAK26) is up +72 (+2.09%).

Cocoa prices are moving higher today amid growing supply concerns. The prolonged closure of the Strait of Hormuz is disrupting global cocoa supplies. The closure of the strait supports cocoa prices by reducing fertilizer supplies, boosting global shipping rates, insurance costs, and fuel prices, thereby raising cocoa importers' costs.

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