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Rich Asplund

MYSTERIOUS: Cocoa prices settle higher on global supply fears - You Need To See This

Ice Ivory Coast London Cocoa NY Cocoa West Africa Ghana ICCO

March ICE NY cocoa (CCH25) Tuesday closed up +168 (+1.46%), and March ICE London cocoa #7 (CAH25) closed up +29 (+0.32%).

Cocoa prices on Tuesday added to Monday's sharp gains. Crop production concerns in West Africa are fueling fund buying of cocoa futures after some Ivory Coast and Nigerian cocoa farmers 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.

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