Commodities
Cocoa Surges to 13-Year High as Disease Ravages West Africa Crop
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Cocoa soared to a 13-year high as heavy rain across West Africa accelerated the spread of a rot-causing disease, threatening output in some of the world’s biggest producers.
Farmers in Ivory Coast, Ghana and Nigeria have reported signs of blackpod disease, which causes cocoa pods to turn black and rot. That may affect the quality or curb output of beans. The disease can be catastrophic for supply, according to Fuad Mohammed Abubakar, head of Ghana Cocoa Marketing Co.