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Rich Asplund

Cocoa Prices Gain on the Outlook for Tighter Supplies from Ghana

Ice Ghana London El Niño NY the Ivory Coast United States

December ICE NY cocoa (CCZ26) is up +58 (+0.97%) today, and December ICE London cocoa #7 (CAZ26) is up +55 (+1.27%).

Cocoa prices are moving higher today on carryover support from last Wednesday when Ghana’s cocoa industry regulator proposed raising cocoa farmers’ pay by +6% for the 2026/27 season. The proposed increase could push Ghana's cocoa farmers to withhold sales and seek higher prices for their cocoa sales. Gains in London cocoa accelerated today after the British pound (^GBPUSD) fell to a 5-week low. A weaker pound boosts cocoa priced in sterling.

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