{"id":10281,"date":"2025-05-20T03:29:00","date_gmt":"2025-05-20T07:29:00","guid":{"rendered":"https:\/\/sharewatch.com\/wp\/2025\/05\/20\/ny-cocoa-prices-climb-on-reduced-ivory-coast-cocoa-exports\/"},"modified":"2025-05-20T03:29:00","modified_gmt":"2025-05-20T07:29:00","slug":"ny-cocoa-prices-climb-on-reduced-ivory-coast-cocoa-exports","status":"publish","type":"post","link":"https:\/\/sharewatch.com\/wp\/2025\/05\/20\/ny-cocoa-prices-climb-on-reduced-ivory-coast-cocoa-exports\/","title":{"rendered":"NY Cocoa Prices Climb on Reduced Ivory Coast Cocoa Exports"},"content":{"rendered":"<div class=\"layout__region nsdq-l-grid__item syndicated-article-body\">\n<section class=\"jupiter22-c-article-body\">\n<div class=\"body\">\n<div class=\"body__content\">\n<p>July ICE NY cocoa (CCN25) Monday closed up +76 (+0.70%), and July ICE London cocoa #7 (CAN25) closed down -74 (-0.96%).<\/p>\n<p>Cocoa prices on Monday settled mixed. \u00a0Supply concerns are supporting cocoa prices as the pace of Ivory Coast cocoa exports has slowed. \u00a0Monday&#8217;s government data showed that Ivory Coast farmers shipped 1.58 MMT of cocoa to ports this marketing year from October 1 to May 18, up +10.5% from last year but down from the much larger +35% increase seen in December.<\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-Ql4\"  class=\"btf-bodymidpagetwothirdswidth-1\">          <script type=\"text\/javascript\">         googletag.cmd.push(function() {             \/\/ Check if ID matches ID in the window.adsList array before calling googletag.display             function isAdInAdsList(id) {             for (var i = 0; i < window.adsList.length; i++) {                 if (window.adsList[i].id === id) {                     return true;                 }             }             return false;         }         if (isAdInAdsList('js-dfp-tag-Ql4')) {             googletag.display('js-dfp-tag-Ql4');         }         });     <\/script> <\/div>\n<\/p><\/div>\n<p>     <span>Don\u2019t Miss a Day: <\/span> From crude oil to coffee, sign up free for Barchart\u2019s best-in-class commodity analysis.  <\/p>\n<p>\u00a0<\/p>\n<p>However, London cocoa was under pressure Monday from the strength of the British pound (^GBPUSD). \u00a0The pound rallied to a 2-1\/2 week high Monday, undercutting cocoa priced in terms of sterling,<\/p>\n<p>Last Friday, NY cocoa posted a 3-1\/4 month nearest-futures high, and London cocoa posted a 3-month high. \u00a0Weather concerns in West Africa are the latest bullish factor to push cocoa prices sharply higher. \u00a0Despite the recent rains in West Africa, drought still covers more than a third of Ghana and the Ivory Coast, according to the African Flood and Drought Monitor.<\/p>\n<p>Cocoa prices have rallied sharply over the past two weeks on quality concerns regarding the Ivory Coast cocoa mid-crop, which is currently being harvested through September. \u00a0Cocoa processors are complaining about the crop's quality and have rejected truckloads of Ivory Coast cocoa beans. \u00a0Processors said about 5% to 6% of the mid-crop cocoa in each truckload is poor quality, compared with 1% during the main crop.<\/p>\n<p>According to Rabobank, the poor quality of the Ivory Coast's mid-crop is partly tied to late-arriving rain in the region that limited crop growth. \u00a0The mid-crop is the smaller of two annual cocoa harvests, which typically starts in April. \u00a0The average estimate for this year's Ivory Coast mid-crop is 400,000 MT, down -9% from last year's 440,000 MT.<\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-9ks\"  class=\"btf-bodymidpagetwothirdswidth-2\">          <script type=\"text\/javascript\">         googletag.cmd.push(function() {             \/\/ Check if ID matches ID in the window.adsList array before calling googletag.display             function isAdInAdsList(id) {             for (var i = 0; i < window.adsList.length; i++) {                 if (window.adsList[i].id === id) {                     return true;                 }             }             return false;         }         if (isAdInAdsList('js-dfp-tag-9ks')) {             googletag.display('js-dfp-tag-9ks');         }         });     <\/script> <\/div>\n<\/p><\/div>\n<p>A rebound in current cocoa inventories is bearish for prices. \u00a0Since falling to a 21-year low of 1,263,493 bags on January 24, ICE-monitored cocoa inventories held in US ports have rebounded and climbed to a 7-3\/4 month high Monday of 2,156,644 bags. \u00a0<\/p>\n<p>Concern that consumer demand for cocoa and cocoa products will wane is weighing on prices on fears that tariffs will boost already-high cocoa prices. \u00a0On April 10, Barry Callebaut AG, one of the world's biggest chocolate makers, cut its annual sales guidance in the face of high cocoa prices and tariff uncertainty. \u00a0Also, chocolate maker Hershey Co. recently reported that Q1 sales fell by 14% and said it anticipated $15-$20 million in tariff costs in Q2, which will boost chocolate prices and further weigh on consumer demand. \u00a0In addition, Mondelez International reported weaker-than-expected Q1 sales and said consumers are cutting back on snack purchases due to economic uncertainty and high chocolate prices. \u00a0<\/p>\n<p>Cocoa prices also have a positive carryover from recent news that showed better-than-expected global cocoa demand. \u00a0Q1 North American cocoa grindings fell -2.5% y\/y to 110,278 MT, better than expectations of at least a -5% y\/y fall. \u00a0Also, Q1 European cocoa grindings fell -3.7% y\/y to 353,522 MT, a smaller decline than expectations for a -5% y\/y drop. \u00a0In addition, Q1 Asian cocoa grinding fell -3.4% y\/y to 213,898 MT, a smaller decline than expectations for a fall of at least -5% y\/y.<\/p>\n<p>Smaller cocoa supplies from Ghana, the world's second-biggest cocoa producer, are supportive for prices after Cocobod, Ghana's cocoa regulator, cut its Ghana 2024\/25 cocoa harvest forecast in December for the second time this season to 617,500 MT, down -5% from an August estimate of 650,000 MT. \u00a0<\/p>\n<p>The International Cocoa Organization (ICCO), on February 28, said the 2023\/24 global cocoa deficit was -441,000 MT, the largest deficit in over 60 years. \u00a0ICCO said 2023\/24 cocoa production fell -13.1% y\/y to 4.380 MMT. \u00a0ICCO said the 2023\/24 global cocoa stocks\/grindings ratio was 27.0%, a 46-year low. \u00a0Looking ahead to 2024\/25, ICCO on February 28 forecasted a global cocoa surplus of 142,000 MT for 2024\/25, the first surplus in 4 years. \u00a0ICCO also projected that 2024\/25 global cocoa production will rise +7.8% y\/y to 4.84 MMT.\u00a0<\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-3P0\"  class=\"btf-bodymidpagetwothirdswidth-3\">          <script type=\"text\/javascript\">         googletag.cmd.push(function() {             \/\/ Check if ID matches ID in the window.adsList array before calling googletag.display             function isAdInAdsList(id) {             for (var i = 0; i < window.adsList.length; i++) {                 if (window.adsList[i].id === id) {                     return true;                 }             }             return false;         }         if (isAdInAdsList('js-dfp-tag-3P0')) {             googletag.display('js-dfp-tag-3P0');         }         });     <\/script> <\/div>\n<\/p><\/div>\n<p>   <i>     On the date of publication,      Rich Asplund              did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy          here. <\/i><\/p>\n<p>\u00a0<\/p>\n<p> More news from Barchart <\/p>\n<ul>\n<li>Where is Support in the Cocoa Futures Market?<\/li>\n<li>Is the Rally in Cocoa Running Out of Upside Steam?<\/li>\n<li>Soft Commodities Q4 and 2024- Where are they Heading in 2025?<\/li>\n<li>Commodity Market Roundup- December\u2019s Top Performers and Underperformers<\/li>\n<\/ul>\n<p class=\"body__disclaimer\">The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p>        <script type=\"text\/javascript\">   \/\/ add oddAd class to every odd instance of body .ads__inline for different placeholder styles   let articleAds = document.querySelectorAll('.ads__inline');   for (let i = 0, len = articleAds.length; i < len; i++) {     \/\/ Do the below only if the curent count is less than 12     if ((i < 12) &#038;&#038; (i % 2 === 0)) {       articleAds[i].className += ' oddAd';     }   } <\/script>                                               <\/p>\n<div class=\"jupiter22-c-tags jupiter22-c-tags-default\">\n<h3 class=\"jupiter22-c-tags-title\">         Tags       <\/h3>\n<div class=\"jupiter22-c-tags-container\">Stocks<\/div>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>July ICE NY cocoa (CCN25) Monday closed up +76 (+0.70%), and July ICE London cocoa #7 (CAN25) closed down -74 (-0.96%). Cocoa prices on Monday settled mixed. \u00a0Supply concerns are supporting cocoa prices as the pace of Ivory Coast cocoa exports has slowed. \u00a0Monday&#8217;s government data showed that Ivory Coast farmers shipped 1.58 MMT of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10282,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[18],"tags":[],"class_list":["post-10281","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock","entry","has-media"],"_links":{"self":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts\/10281","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/comments?post=10281"}],"version-history":[{"count":0,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts\/10281\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media\/10282"}],"wp:attachment":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media?parent=10281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/categories?post=10281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/tags?post=10281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}