Cocoa Surges Back to $10,000 a Ton on Growing Supply Fears
- Hopes of West African crop recovery hit by poor weather
- Market continues to struggle after last year’s record deficit
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Cocoa futures climbed to the highest in nearly six months on mounting concerns over lower output in West Africa, with global supplies already tight.
The most-active contract rose as much as 2.4% to $10,092 a ton in New York, the highest since June 14, before paring back. Futures are headed for the sixth straight week of gains, marking the longest rising streak since late March.