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Rich Asplund

DARK SECRETS: West african cocoa crop concerns boost prices | Vintage Vibes

Ice West Africa Ivory Coast London Cocoa NY Cocoa Ghana CFTC ICCO London

March ICE NY cocoa (CCH25) Tuesday closed up +386 (+3.45%), and March ICE London cocoa #7 (CAH25) closed up +236 (+2.62%).

Cocoa prices Tuesday rallied to 2-week highs on crop production concerns in West Africa. Some Ivory Coast and Ghana cocoa farmers have 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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