Cocoa futures climbed to fresh multi-month highs this week as persistent dry weather in Ivory Coast and Ghana raised fresh doubts about the size of the upcoming mid-crop harvest.

Exporters in the two West African nations, which together account for roughly six in ten cocoa beans traded globally, reported shipments running well behind last season’s pace.

Grinders in Europe and North America have already begun passing higher input costs on to chocolate makers, squeezing margins across the confectionery supply chain.

Traders said prices are likely to stay volatile until the scale of the deficit becomes clearer, with the next round of port arrival data due in the coming weeks.