Cocoa Futures Drop

2026-10-22 14:50 By Luisa Carvalho 1 min. read

Cocoa futures fell over 4% to around $5,500 a tonne, reaching their lowest since early October, as investors trimmed long positions following recent gains, while rising inventories also added to the pressure.

ICE cocoa inventories have steadily expanded since the start of the year, reaching a 2.5-year high of 3,635,354 bags by October 21.

Still, signs of improving demand and concerns over West African supplies limted the downside.

Cocoa grindings across key processing regions rose 14.3% in Q3, beating market expectations as Asian processing jumped 29.2% and European volumes increased by 3.2%.

North America was the exception, recording a 2.5% decline.

On the supply side, concerns are mounting over the 2026/27 West African cocoa crop.

Below-average rainfall in the Ivory Coast has raised fears of weaker pod development, while Ghana is also facing a potentially smaller harvest amid weather-related stress and crop disease.

The expected strong impact of El Niño adds further uncertainty.



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Cocoa Futures Drop
Cocoa futures fell over 4% to around $5,500 a tonne, reaching their lowest since early October, as investors trimmed long positions following recent gains, while rising inventories also added to the pressure. ICE cocoa inventories have steadily expanded since the start of the year, reaching a 2.5-year high of 3,635,354 bags by October 21. Still, signs of improving demand and concerns over West African supplies limted the downside. Cocoa grindings across key processing regions rose 14.3% in Q3, beating market expectations as Asian processing jumped 29.2% and European volumes increased by 3.2%. North America was the exception, recording a 2.5% decline. On the supply side, concerns are mounting over the 2026/27 West African cocoa crop. Below-average rainfall in the Ivory Coast has raised fears of weaker pod development, while Ghana is also facing a potentially smaller harvest amid weather-related stress and crop disease. The expected strong impact of El Niño adds further uncertainty.
2026-10-22
Cocoa is down by 5.01%
Cocoa decreased 5.01% to 5550.53 USD/T
2026-10-22
Cocoa Futures Hover Around $5,700
Cocoa prices traded around $5,700 a tonne following recent volatility, remaining well above February’s lows, supported by signs of improving demand and concerns over West African supplies. Third-quarter grindings rose a stronger-than-expected 14.3% across key processing regions, led by a 29.2% jump in Asia and a 3.2% rise in Europe, although North American processing declined 2.5%. On the supply side, concerns over the 2026/27 crop persist, as below-average rainfall in Côte d’Ivoire and Ghana and the potential impact of El Niño raise the risk of lower production. Meanwhile, ICE-monitored cocoa inventories continued to rise, reaching 3,593,964 bags on October 16, their highest level in more than two years.
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