Cocoa #7 Dec '23 (CAZ23)
Cocoa #7 Futures Market News and Commentary
July ICE NY cocoa (CCN26) on Monday closed down -135 (-3.93%), and May ICE London cocoa #7 (CAK26) closed down -99 (-3.93%).
Cocoa prices fell sharply on Monday amid robust supplies and slack demand. Monday's cumulative data from the Ivory Coast showed that farmers shipped 1.51 MMT of cocoa to ports in the current marketing year (October 1, 2025, through April 19, 2026), +0.7% from the same period a year ago.
Signs of weak chocolate demand are also negative for cocoa prices after Circana on April 14 reported that chocolate candy sales in North America in the 13 weeks ending March 22 fell -1.3% from the same period a year ago. Also, Bloomberg Intelligence said that chocolate candy sales during this past Easter holiday, a prime seasonal time for chocolate consumption, fell about 5% from last year.
Abundant current cocoa supplies are bearish for prices as ICE cocoa inventories rose to a 20-month high of 2,632,357 bags last Monday.
Weak global cocoa demand is b... Read more
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