Cocoa #7 May '24 (CAK24)
Cocoa #7 Futures Market News and Commentary
December ICE NY cocoa (CCZ26) closed down -200 (-2.95%) on Tuesday, and December ICE London cocoa #7 (CAZ26) closed down -42 (-0.86%).
Cocoa prices retreated on Tuesday, with London cocoa falling from an 11-month high. Larger supplies from the Ivory Coast pressured cocoa prices on Tuesday. Cumulative data from the Ivory Coast, the world’s largest cocoa producer, showed that farmers shipped 2.14 MMT of cocoa to ports in the current marketing year (October 1, 2025, through August 30, 2026), up +19% from the same period a year ago.
Also, the Ivory Coast cocoa regulator, Le Conseil du Café Cacao, said on Tuesday that it aims to boost the country’s cocoa processing capacity to 1.3 MMT in 2026/27 from 650,000 MT in 2025/26.
Losses in London cocoa were limited on Tuesday after the British pound (^GBPUSD) fell to a 2-week low. The weaker pound boosts cocoa that is priced in sterling.
Rising cocoa inventories are negative for prices after ICE cocoa inventories... Read more
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