Cocoa Futures at 2023-Lows

2026-02-17 17:07 By Luisa Carvalho 1 min. read

Cocoa prices continued their slide to below $3,100 per tonne, the lowest since May 2023, reflecting ongoing weak global demand and resulting restocking in key producing countries.

Warehouses in Ghana and the Ivory Coast continue to accumulate unsold cocoa beans, even after Ghana cut farmer payouts to encourage supply.

At the same time, ICE cocoa inventories rose to a 4.25-month high of 1,942,367 bags on Friday, signaling that more cocoa is available for immediate delivery than is being absorbed by the market.

The accumulation of inventories and delays in sales increases the risk of additional pressure on international prices.

Meanwhile, the cocoa market continues to face pressure as favorable weather across West Africa has strengthened production forecasts, fueling expectations of abundant supply, with South America also contributing increased output.



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