Reported 6 months ago
Cocoa futures have climbed up to $9,798 a ton in New York amidst worries about supply shortages that had previously caused prices to hit record highs in April. Poor harvests in West Africa, the largest cocoa producing region, have contributed to the price surge, with analysts predicting a continued high price trend due to a global bean shortage and low exports from Ivory Coast. Traders are cautious about further demand cues and anticipate upcoming cocoa grindings figures to determine market direction.
Source: YAHOO