Cocoa prices rise on expectations of poor Ivory Coast harvest

Published Mar 18, 2025

Tridge summary

New York cocoa futures experienced a surge of 2.5%, reaching $8,021 a metric ton, due to concerns over a potential 40% decrease in Ivory Coast's mid-season crop caused by dry weather and irregular rainfall. This trend was mirrored in the raw sugar market, which saw a 2-1/2-week high of 20.09 cents per lb, driven by deteriorating crop expectations in India and Brazil. Meanwhile, Arabica and Robusta coffee prices remained stable, with the market's attention primarily focused on Brazil's upcoming crop and the potential impact of rainfall on growth stress.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

NEW YORK (Reuters) - New York cocoa futures rose on Tuesday, boosted by signs of a poor mid-season crop in top producer Ivory Coast this season, while raw sugar prices rose to a 2-1/2-week high. COCOA * Cocoa in New York rose $194, or 2.5 percent, to $8,021 a metric ton, rebounding from a four-month low hit last week. * Dealers said the market was supported by concerns that dry weather will reduce the size of the mid-season crop in Ivory Coast, the world's top producer, and a slowdown in port arrivals in the world's top producer. * Ivory Coast’s mid-season crop is expected to fall by around 40% this season after an exceptionally long dry season and limited and irregular rains hit crops in key producing regions, exporters and pod counters said. * Many market participants are in Sao Paulo for this year's World Cocoa Foundation meeting on Wednesday and Thursday. * Cocoa in London rose 1.2% to £6,172 a tonne. SUGAR * Raw sugar futures settled up 0.02 cent, or 0.1%, at 19.99 ...

Source: NoticiasAgricolas