May ICE NY cocoa prices (CCK26) fell by $93 (-2.61%) and May ICE London cocoa #7 (CAK26) decreased by $75 (-2.87%) as prices dropped from 1.75-month highs due to hedge selling. Forward cocoa sales in Ivory Coast reached 800,000 MT for the 2026/27 season, up from 350,000 MT in March. This surge coincided with a notable increase in cocoa grindings in Malaysia, which were up 8.7% year-on-year to 91,946 MT in Q1.
Cumulative cocoa shipments from Ivory Coast this marketing year (Oct 1, 2025, to April 12, 2026) stood at 1.46 million MT, a slight increase from 1.45 million MT the previous year, while ICE cocoa inventories hit a 19.5-month high of 2.61 million bags. Weak chocolate demand has been evident, with early Easter holiday sales tracking a decline of 5% compared to last year. Furthermore, adverse weather conditions in West Africa have raised agricultural concerns, impacting cocoa pricing and supply forecasts.
