Deliveries of the soft commodity to ports in the Ivory Coast climbed 42 percent from early August through December 8, according to KnowledgeCharts.
"Last season started really poorly and everyone was really worried, but then it picked up," head of soft commodities research Edward George with Ecobank Transnational Inc. in Togo told Bloomberg on Thursday. "I think we've got the absolute opposite here. We've got very high arrivals because it's a good start of the season, you've got lots of traders trying to buy up desperately because they are really worried that there will be a slowdown in January."
At 10:40 a.m. on Thursday, cocoa futures rose 1.16 percent, a $32 lift to $2,787 per metric ton.
The BBC reports former President Laurent Gbagbo of Ivory Coast is preparing to be tried for crimes against humanity in The Hague. As leader of the West African nation from 2000 through 2011, Gbagbo guided the globe's largest producer of the soft commodity.
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