Cocoa Futures Hover Around 2024-Lows

2026-02-06 16:29 By Luisa Carvalho 1 min. read

Cocoa prices traded around $4,200 per tonne, hovering near the lowest since January 2024, amid lingering concerns over demand.

Dealers cited weak global demand that is leading to a build-up in stocks of unsold beans in both the Ivory Coast and Ghana, the world's two largest producers.

The Ivory Coast officially launched on January 29, 2026, a strategic operation to buy back thousands of tons of unsold cocoa that have been sitting in warehouses and around the country's ports since November 2025.

Meanwhile, the Ghana Cocoa Board (COCOBOD) has disclosed that buyers on the international market are increasingly turning away from Ghana’s cocoa due to higher prices compared to beans from other producing countries.

Ghana has about 50,000 metric tons of unsold cocoa sitting at its ports.

On the supply side, the outlook remains favorable.

StoneX recently projected a global surplus of 287,000 tons for the 2025/26 crop year and 267,000 tons for 2026/27.



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