Cocoa prices surge to three-month high due to supply concerns.

The price of cocoa has risen to a three-month high as concerns over supply increase due to slowing shipments from the world's largest cocoa-producing country, Ivory Coast, and dry weather threatening production for the next season. The most active cocoa contract in the New York market rose by 7.6% to $11,037 per ton, reaching the highest intraday price since February 4. Cocoa futures are expected to have a cumulative increase of 20% this week, the largest weekly gain since November last year.