Benchmark cocoa futures in New York rallied more than 4 percent to a new 2-month high Friday, extending yesterday's price hike on lingering supply concerns from intensified fighting in Ivory Coast. News that government warplanes and helicopter gunships pounded rebel-held towns in northern parts of the world's top cocoa producer prompted another session of fund and industry buying amid heavy trading volumes, traders said.
On the New York Board of Trade (NYBOT), most-active December cocoa climbed $65, or 4.2 percent, to settle at $1,633 a tonne, the highest closing price since August 31.