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Barchart
Rich Asplund

UNBELIEVABLE: An improving supply outlook weighs on cocoa prices | History Defined

Ice ICCO the International Cocoa Organization London Hershey Mondelez United States

May ICE NY cocoa (CCK25) today is down -211 (-2.52%), and May ICE London cocoa #7 (CAK25) is down -233 (-3.53%).

Cocoa prices today are trading lower and just above Tuesday's 3-1/2 month lows.  An improving supply outlook is weighing on cocoa prices after the International Cocoa Organization (ICCO) last Friday forecasted a global cocoa surplus of 142,000 MT for 2024/25, the first surplus in 4 years.  ICCO also forecasted that 2024/25 global cocoa production will rise +7.8% y/y to 4.84 MMT.

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