Cocoa Futures Weather Forecast August 2024. Cocoa futures soared as much as 12% in new york, the biggest intraday jump in three months, as dry weather in the world’s top producers fuels concerns about output in the. Still, cocoa futures are up over 80 per cent this year, primarily driven by fears around dry weather, disease and a lack of fertilizers curbing output in the main growing region.
In ivory coast, the world’s top producer of cocoa beans, heavy rains—particularly in the southwestern region—have intensified since the final week of september. Prices have dropped over 30% from peak levels in april but remain significantly higher than.