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Rich Asplund

REVEALED: Cocoa prices surge on west african crop risks | Rare Historical Photos

Ice West Africa Ghana

December ICE NY cocoa (CCZ26) closed up +475 (+7.69%) on Friday, and September ICE London cocoa #7 (CAU26) closed up +385 (+8.77%).

Cocoa prices soared for a second straight day on Friday and posted 11-month highs. Concerns about the quality of this year’s West African cocoa crops are pushing cocoa prices sharply higher. The lack of sunshine in the Ivory Coast and Ghana is allowing black pod disease to spread, lowering cocoa bean quality.

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