{"id":13406,"date":"2025-06-24T15:05:00","date_gmt":"2025-06-24T19:05:00","guid":{"rendered":"https:\/\/sharewatch.com\/wp\/2025\/06\/24\/tighter-cocoa-supplies-from-the-ivory-coast-support-prices\/"},"modified":"2025-06-24T15:05:00","modified_gmt":"2025-06-24T19:05:00","slug":"tighter-cocoa-supplies-from-the-ivory-coast-support-prices","status":"publish","type":"post","link":"https:\/\/sharewatch.com\/wp\/2025\/06\/24\/tighter-cocoa-supplies-from-the-ivory-coast-support-prices\/","title":{"rendered":"Tighter Cocoa Supplies from the Ivory Coast Support Prices"},"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>September ICE NY cocoa (CCU25) today is up +238 (+2.79%), and July ICE London cocoa #7 (CAN25) is up +58 (+0.96%).<\/p>\n<p>Cocoa prices today added to Monday&#8217;s sharp gains on concern about tighter cocoa supplies from the Ivory Coast. \u00a0Monday&#8217;s government data showed that Ivory Coast farmers shipped 1.679 MMT of cocoa to ports this marketing year from October 1 to June 22, up +6.9% from last year but down from the much larger +35% increase seen in December. \u00a0There are reports that heavy rain in the Ivory Coast is keeping cocoa growers off their farms and is disrupting the ongoing mid-crop cocoa harvest.<\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-TkE\"  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-TkE')) {             googletag.display('js-dfp-tag-TkE');         }         });     <\/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>Gains in London cocoa are limited today after the British pound (^GBPUSD) rallied to a 3-1\/3 year high. \u00a0Th stronger pound weighs on cocoa that is priced in term of sterling.<\/p>\n<p>Cocoa prices have been under pressure over the past couple of weeks, with NY cocoa posting a 2-1\/4 month low last Friday and London cocoa posting a 2-1\/2 month low. \u00a0Recent rain in West Africa is expected to benefit the region's cocoa crops and has hammered cocoa prices. \u00a0<\/p>\n<p>The rebound in current cocoa inventories is also 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 9-1\/4 month high of 2,363,861 bags last Wednesday. \u00a0<\/p>\n<p>Signs of smaller cocoa exports are supportive of cocoa prices, following news on June 11 of a -11% y\/y decline in Nigerian April cocoa exports to 18,561 MT. \u00a0Nigeria is the world's fourth-largest cocoa exporter.<\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-ijo\"  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-ijo')) {             googletag.display('js-dfp-tag-ijo');         }         });     <\/script> <\/div>\n<\/p><\/div>\n<p>Late last month, NY cocoa rallied to a 4-3\/4 month nearest-futures high on concerns about weather in West Africa. \u00a0Despite the recent rain 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 also have support on quality concerns regarding the Ivory Coast cocoa mid-crop, which is currently being harvested through September. \u00a0Cocoa processors are complaining about the quality of the crop and have rejected truckloads of Ivory Coast cocoa beans. \u00a0Processors reported that about 5% to 6% of the mid-crop cocoa in each truckload is of poor quality, compared with 1% during the main crop. \u00a0According to Rabobank, the poor quality of the Ivory Coast's mid-crop is partly attributed to late-arriving rain in the region, which limited crop growth. \u00a0The mid-crop is the smaller of the 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<p>Concern about consumer demand for cocoa and cocoa products is bearish for cocoa, driven by fears that tariffs will exacerbate already high cocoa prices. \u00a0On April 10, Barry Callebaut AG, one of the world's largest chocolate makers, reduced its annual sales guidance due to 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. \u00a0Mondelez International reported weaker-than-expected Q1 sales, stating that consumers are cutting back on snack purchases due to economic uncertainty and high chocolate prices. \u00a0<\/p>\n<p>Weaker demand from cocoa processors was seen in Q1. \u00a0Q1 North American cocoa grindings fell -2.5% y\/y to 110,278 MT. \u00a0Q1 European cocoa grindings fell -3.7% y\/y to 353,522 MT. \u00a0Q1 Asian cocoa grinding fell -3.4% y\/y to 213,898 MT.<\/p>\n<p>On May 30, The International Cocoa Organization (ICCO) revised its 2023\/24 global cocoa deficit to -494,000 MT from a February estimate of -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-PHg\"  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-PHg')) {             googletag.display('js-dfp-tag-PHg');         }         });     <\/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>Drought Conditions Are Setting In. How Much Higher Can Wheat Prices Go?<\/li>\n<li>Sugar Futures Remain Bearish- Can the Sweet Commodity Rally?<\/li>\n<li>What We Know About Soybeans<\/li>\n<li>Can Soybean Prices Keep Trending Higher?<\/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>September ICE NY cocoa (CCU25) today is up +238 (+2.79%), and July ICE London cocoa #7 (CAN25) is up +58 (+0.96%). Cocoa prices today added to Monday&#8217;s sharp gains on concern about tighter cocoa supplies from the Ivory Coast. \u00a0Monday&#8217;s government data showed that Ivory Coast farmers shipped 1.679 MMT of cocoa to ports this [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13407,"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-13406","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\/13406","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=13406"}],"version-history":[{"count":0,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts\/13406\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media\/13407"}],"wp:attachment":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media?parent=13406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/categories?post=13406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/tags?post=13406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}