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Barchart
Barchart
Rich Asplund

Cocoa Prices Soar as the Global Supply Outlook Tightens

Ice NY ICCO European Union London the International Cocoa Organization

March ICE NY cocoa (CCH26) today is up +348 (+5.92%), and March ICE London cocoa #7 (CAH26) is up +247 (+5.81%).

Cocoa prices are soaring today, hitting 1-month highs.  Cocoa prices have rallied sharply over the past two weeks amid a tightening global supply outlook.  On November 28, the International Cocoa Organization (ICCO) cut its global 2024/25 cocoa surplus estimate to 49,000 MT from a previous estimate of 142,000 MT, and lowered its global 2024/25 cocoa production estimate to 4.69 MMT from a prior estimate of 4.84 MMT.  Also, Rabobank on Tuesday cut its 2025/26 global cocoa surplus estimate to 250,000 MT from a November forecast of 328,000 MT.

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