May ICE NY cocoa (CCK24) Monday closed up +332 (+5.19%), and May ICE London cocoa #7 (CAK24) closed +285 (+5.45%). May NY cocoa on Monday rallied sharply and edged to a new contract high due to ongoing West African cocoa supply concerns. Lower cocoa production in the Ivory Coast, the world’s largest producer, is a major bullish factor for cocoa prices. Monday’s government data showed Ivory Coast farmers shipped 1.22 MMT of cocoa to ports from October 1 to March 10, down -29% from the same time last year. The Ivory Coast cocoa regulator said last Thursday it expects the Ivory Coast mid-crop, wh…