Cocoa Hits 27-month Low

Cocoa decreased to 3683.00 USD/T, the lowest since October 2023. Over the past 4 weeks, Cocoa lost 27.48%, and in the last 12 months, it decreased 63.79%.

Cocoa prices extended their downward trend to below $3,700 per tonne, near the lowest level since October 2023, as the market balanced weak global demand against higher supply. Weak buying interest is leading to stock accumulation among major cocoa producers, particularly the Ivory Coast and Ghana. Latest data showed cocoa arrivals at ports in Ivorian Coast ports reached 1.263 million metric tons by February 8 since the start of the season on October 1, down 4.5% from the same period last season. Meanwhile, StoneX projected in late January a global cocoa surplus of 287,000 tonnes for the 2025/26 crop year and 267,000 tonnes for 2026/27. Regarding crop developments, farmers in the Ivory Coast noted sufficient soil moisture, with forthcoming rains expected to strengthen the crop and help produce high-quality cocoa beans. However, they expressed concerns that poor storage conditions were affecting bean quality, and some were hesitant to harvest ripe pods for fear of non-payment.

Cocoa decreased 5.08% to 3983.94 USD/T