July ICE NY cocoa (CCN24) on Tuesday closed up +486 (+5.86%), and July ICE London cocoa #7 (CAN24) closed up +261 (+3.83%). Cocoa prices Tuesday surged to 2-week highs. Lower cocoa production in the Ivory Coast, the world’s largest producer, is a major bullish factor for cocoa prices. Government data Monday showed that Ivory Coast farmers shipped 1.46 MMT of cocoa to ports from October 1 to May 26, down by 30% from the same time last year. Trader Ecom Agroindustrial projects Ivory Coast 2023/24 cocoa production, which ends in September, will fall -21.5% y/y to an 8-year low of 1.75 MMT. Gains …