LONDON – Cocoa prices rose sharply on Wednesday after key producers Cote d’Ivoire and Ghana threatened to stop selling their production to buyers unwilling to meet a minimum price.
The threat pushed the September forward contract for the commodity, listed in New York, to $2,540 a ton, up 1.4 percent on the day.
The two African nations, which together account for 60 percent of the world’s cocoa production, summoned buyers to Accra for a two-day meeting demanding a price of $2,600 per ton.
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