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Commodity Corner l In New York, prices of cocoa are at a 44-year high of $3,874/t. In West Africa, 20% cocoa crop is infected due to heavy rain and black pod infestation. Manisha Gupta brings us the details.
Futures traded in New York jumped as much as 2.5% to the highest for a most-active contract since 1979. Behind the gains are forecasts for poor crops in top growers Ivory Coast and Ghana just as demand is signaling an improvement.
“The supply and demand situation remains bullish,” Jack Scoville, a vice president for Price Futures Group in Chicago, said in a report.
https://finance.yahoo.com/news/cocoa-price-soars-highest-44-151348597.html
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