Cocoa Prices Hit Near 3-Month High

Cocoa futures climbed further to surpass $9,600 per tonne, reaching their highest since February 20, amid renewed concerns over the mid-crop in top grower Ivory Coast. Local farmers warned that heavy rains are needed to compensate for below-average rainfall last week and fortify the last stage of the April-to-September midcrop in the country's main cocoa producing regions.

Adding to this, quality concerns persisted.

Cocoa processors have reported rejecting truckloads of beans due to quality issues, with 5–6% of the mid-crop deemed substandard—significantly higher than the 1% typically seen during the main crop.