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Barchart
Barchart
Rich Asplund

West African Cocoa Crop Concerns Boost Cocoa Prices

Ice West Africa ICCO

March ICE NY cocoa (CCH25) today is up +229(+2.17%), and March ICE London cocoa #7 (CAH25) is up +204 (+2.42%).

Cocoa prices today extended their 6-week rally, with Mar NY cocoa and Mar London cocoa posting fresh contract highs.  Cocoa prices are surging as the West African cocoa mid-crop outlook has deteriorated.  Maxar Technologies warns that dry conditions in West Africa will hurt the early development of the mid-year cocoa crop harvested in April and that the arrival of the seasonal Harmattan winds could worsen the situation.  

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