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As of today, December ICE NY cocoa (CCZ25) has decreased by 45 points (-0.74%) and December ICE London cocoa #7 (CAZ25) is down 3 points (-0.07%). These declines follow disappointing Halloween chocolate sales reported by Hershey, which contribute to weak global cocoa demand.
Key statistics include U.S. cocoa inventories falling to a 7-month low of 1,837,670 bags, and a 24% drop in cocoa shipments from the Ivory Coast during the current marketing year. Additionally, Q3 cocoa grindings reported by the Cocoa Association of Asia fell by 17% year-on-year, while European grindings saw a 4.8% decrease year-on-year.
In Nigeria, cocoa production is projected to decline by 11% for the 2025/26 crop year, whereas Ghana’s cocoa arrivals surged to 50,440 MT, impacting pricing dynamics. The International Cocoa Organization has reported a record global cocoa deficit of 494,000 MT for the 2023/24 season.
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