ICE cocoa hits fresh 32-yr high, I.Coast supports

LONDON (Reuters) - ICE cocoa prices hit a fresh 32-year high of $3,645 a tonne in early trading on Thursday, as tensions escalated in top producer Ivory Coast, raising concerns of future global supplies.

"If demand increases against the current backdrop in Cote d'Ivoire then markets could rally further," Abah Ofon, commodities analyst at Standard Chartered Bank said.

Benchmark May ICE cocoa futures traded up $10, or 0.3 percent at $3,641 a tonne at 0903 GMT.

(Source: http://af.reuters.com/article/investingNews/idAFJOE71N08M20110224)