Cocoa Futures Below $3,000
2026-02-24 15:58
By
Luisa Carvalho
1 min. read
Cocoa prices eased to below $3,000 per tonne, the lowest since May 2023, as the market remained pressured by sluggish demand, ample supply and expectations of a strong harvest in major producing countries.
In the meantime, large volumes of cocoa remain unsold in top growers Ivory Coast and Ghana, as buyers are reluctant to pay official farm-gate prices above world levels, limiting governments’ ability to keep prices high.
Ivory Coast is reportedly considering cutting the price it pays cocoa farmers to align with Ghana, responding to a sharp decline in global cocoa prices.
Latest data showed ICE cocoa inventories rose to a 5.25-month high of 2,111,554 bags as of February 20.
Regarding crop developments, farmers in Ivory Coast reported adequate soil moisture, which should improve the quality and size of the upcoming April-to-September mid-crop.
With normal rains expected in March, they foresee no shortages and predict the crop will be larger and of higher quality than last season.