Cocoa Notches Another Record as West African Supply Woes Persist
- New York futures rise as much as 2.7% to $10,760 a ton
- Ivory Coast arrivals this season still 30% behind last year
This article is for subscribers only.
Cocoa futures rose as much as 2.7% to a fresh intraday record of $10,760 a ton in New York, with little relief in sight for strained global supplies.
Prices in New York have gained for seven straight sessions, the longest streak since early February as harvests in the heavyweight West African growing region have been slammed by bad weather and crop disease. Cocoa arrivals to ports in top grower Ivory Coast are running at 1.31 million tons so far this season, down 30% from a year earlier, Bloomberg reported Monday.