Cocoa Futures at Over 2-Month Low

2026-10-01 12:56 By Luisa Carvalho 1 min. read

Cocoa futures eased toward $5,100 per tonne, their lowest since July 27, pressured by ample supply following a large global surplus in the 2025/26 season.

Rising inventories added to the downward pressure, with ICE cocoa stocks reaching a 2.25-year high of 3,481,504 bags as of September 30.

At the same time, government data showed Ivory Coast's cocoa shipments totaled 2.18 MMT in the current marketing year, from October 1, 2025, to September 27, 2026, up 19.8% from the same period a year earlier.

The medium-term outlook is less favourable, however, with West African crop prospects facing increased weather risks in 2026/27, including those associated with El Niño.

Early estimates for the next season are far from comfortable.

Forecasts for Ivory Coast point to production of around 1.8 million metric tons, well below roughly 2.2 million metric tons in 2025/26.



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