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Barchart
Barchart
Rich Asplund

West African Cocoa Crop Concerns Underpin Prices

Ice NY West Africa Ghana United Kingdom

December ICE NY cocoa (CCZ26) is up +106 (+1.59%) today, and September ICE London cocoa #7 (CAU26) is not trading, with markets in the UK closed today for a holiday.

NY cocoa extended its sharp three-session rally today, posting an 11-month high. Concerns about the quality of this year’s West African cocoa crops are underpinning cocoa prices. Cloudy weather and limited sunshine in the Ivory Coast and Ghana are allowing black pod disease to spread, lowering cocoa bean quality.

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