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Barchart
Rich Asplund

Cocoa Prices Plunge as ICCO Projects a Global Cocoa Surplus

Ice ICCO United States the International Cocoa Organization Hershey London Mondelez

May ICE NY cocoa (CCK25) Monday closed down -912 (-10.00%), and May ICE London cocoa #7 (CAK25) closed down -775 (-10.56%).

Cocoa prices Monday plummeted to 3-1/2 month lows after the International Cocoa Organization (ICCO) last Friday forecasted a global cocoa surplus of 142,000 MT for 2024/25, the first surplus in 4 years.  The ICCO also forecasted that 2024/25 global cocoa production will rise +7.8% y/y to 4.84 MMT.

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