cocoa futures surge to seven month high amid west africa crop concerns

Cocoa futures have reached a seven-month high, hitting $10,380 per ton, due to declining production prospects in West Africa.

The most-active contract has risen by up to 5.4%, reaching its highest price level since April 29.

This increase in prices is a result of concerns about global cocoa supplies, which have been worsened by adverse weather conditions affecting major producers Ivory Coast and Ghana.

Additionally, historically low inventory levels have raised concerns about potential shortages in the market.

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