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Rich Asplund

Cocoa Prices Settle Higher on Ghana Supply Concerns

Ice Ghana London El Niño Ivory Coast NY

December ICE NY cocoa (CCZ26) closed up +628 (+1.04%) on Monday, and December ICE London cocoa #7 (CAZ26) closed up +52 (+1.20%).

Cocoa prices settled higher on Monday amid 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 on Monday after the British pound (^GBPUSD) fell to a 5-week low. A weaker pound boosts cocoa priced in sterling.

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