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Barchart
Barchart
Rich Asplund

Cocoa Prices Under Pressure from an Improving Supply Outlook

Ice ICCO London NY Hershey Mondelez

May ICE NY cocoa (CCK25) today is down -37 (-0.47%), and May ICE London cocoa #7 (CAK25) is down -41 (-0.67%).

Cocoa prices today are moderately lower, with London cocoa posting a new 4-month low.  Cocoa prices have been on the defensive over the past month, with NY cocoa falling to a 4-month low last Friday on an improving supply outlook.  On February 28,  the International Cocoa Organization (ICCO) forecasted a global cocoa surplus of 142,000 MT for 2024/25, the first surplus in 4 years.  ICCO also projected that 2024/25 global cocoa production will rise +7.8% y/y to 4.84 MMT.

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