UK: Cocoa renews historic high in London with scarce global supply

LONDON (Reuters) - Cocoa futures traded on London's ICE exchange set a new record on Monday, with more signs of reduced supply and technical issues, prompting investors to double down on rising prices. COCOA * The March cocoa contract in London advanced 0.6%, to 3,498 pounds per metric ton, at around 11:50 am (Brasília time), after setting a record of 3,499 pounds. * Cocoa arrivals at ports in Côte d'Ivoire, the biggest producer, reached 350,000 tons between October 1 and November 12, 25% below the same period in the previous season, according to exporters' estimates. * Prices have risen about 75% so far this year as poor harvests in Ivory Coast and Ghana -- which produce two-thirds of the world's cocoa -- are expected to lead to a third consecutive global deficit this season. * However, against this, Ivory Coast farmers are hoping that abundant rains combined with sunny spells will help cocoa trees get through the current dry season, increasing the size of the main crop, from ...