Cocoa Futures Gain as Ivory Coast Rains Slow Harvest, Delivery

Cocoa futures in London extended gains as heavy rains in top grower Ivory Coast hamper the new season harvest and the delivery of beans to ports, the latest threat to global supplies.

“The rains surprised everyone because it is not the time of the normal rainy season,” Julien Gonkapieu, a farmer in western Ivory Coast said. “The waters have not receded. Roads are still inaccessible to transport cocoa beans from plantations to collection centers.”