Cocoa prices fell on Tuesday, with September ICE NY cocoa (CCU26) down 2.30% to close at -139 and September ICE London cocoa #7 (CAU26) down 1.91% to close at -82. This decline was influenced by favorable growing conditions in the Ivory Coast and Ghana, leading to new flowering ahead of the main harvest next month.
As of August 5, cumulative cocoa shipments from the Ivory Coast reached 2.11 million metric tons (MMT), marking a 20% increase from the previous year. However, rising ICE cocoa inventories hit a two-year high at 3.38 million bags, exerting downward pressure on prices.
In Ghana, cocoa production for the 2025/26 season was reported at 750,000 MT, up 25.6% from the previous year. Yet, projections for the 2026/27 season estimate production may drop to 450,000 MT to 550,000 MT due to various agricultural stresses, including the impact of the El Niño weather pattern.
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