ICE Cocoa Futures Hit Highest Level Since January on July 6, West African Supply Concerns Rise

According to Jin10 citing agricultural data platform CropGPT, ICE New York cocoa futures reached their highest level since January on July 6, driven by concerns over West African crop growth prospects. CropGPT reported that the world's two largest cocoa producers, Ivory Coast and Ghana, have experienced continuous heavy rainfall in recent weeks, increasing the risk of black pod disease outbreaks and causing cocoa flowers to drop. These developments could weaken production in the 2026-2027 growing season, with the market anticipating tighter supplies ahead.
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