**Cocoa Prices Decline Amid Supply Concerns**
On September 25, 2023, cocoa futures closed lower, with September ICE NY cocoa down 2.51% and July ICE London cocoa down 2.50%. This decline follows a two-week surge of over 20%, attributed to increased global cocoa supplies and concerns about the upcoming West African cocoa crop affected by heavy rains.
Key data reveals that Nigerian cocoa exports in May rose by 28% year-on-year to 18,034 metric tons. Despite this, the Ivory Coast reported a 10.8% decrease in cocoa production expected for 2025/26, projecting 1.65 million metric tons compared to 1.85 million metric tons the previous year. Meanwhile, ICE cocoa inventories reached a 1.75-year high of nearly 2.95 million bags. North American cocoa grindings fell by 3.8% year-on-year in Q1, while European grindings decreased by 7.8%, contrasting with a 5.2% increase in Asian grindings.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
