Cocoa Caps Biggest Weekly Gain Since 2001 on West Africa Jitters
- Ghana at odds with companies on living-income premium
- Ivory Coast rivals seek to ease tensions after election
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Cocoa futures capped the biggest weekly gain in 19 years amid jitters on West African trade and supply, pacing a rally in soft commodities.
Ghana, the world’s second-biggest producer, criticized cocoa sustainability programs and companies that it said are backtracking on a pledge to pay more for beans. In Ivory Coast, the top grower, President Alassane Ouattara and his main political rival last week began talks to ease tensions over last month’s disputed election. Violence left at least 85 people dead and hundreds injured, the government said.