Cocoa prices experienced significant declines on Wednesday, with December ICE NY cocoa closing down 4.54% at $6,202 per metric ton, and December ICE London cocoa down 4.94% at $4,583 per metric ton. This downturn follows Barry Callebaut AG’s announcement that the global cocoa market is well supplied, amidst a backdrop of increasing inventories which reached a two-year high of 3,411,776 bags.
From October 1, 2025, to August 30, 2026, the Ivory Coast, the world’s largest cocoa producer, reported cocoa shipments of 2.14 million metric tons, a 19% increase over the same period last year. Concurrently, the Ivory Coast harvested 2.06 million metric tons from June 2025 to June 2026, marking a 30% rise compared to the previous year’s 1.58 million metric tons. However, concerns remain regarding the future crop, as assessments suggest below-average cocoa pod development due to adverse weather conditions linked to the El Niño pattern.
In contrast, Ghana’s Cocoa Board has projected a 13% decline in the 2026/27 cocoa crop to 650,000 metric tons, raising some bullish sentiments amid the overall ample supply.
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