{"id":19115,"date":"2025-08-25T18:34:00","date_gmt":"2025-08-25T22:34:00","guid":{"rendered":"https:\/\/sharewatch.com\/wp\/2025\/08\/25\/weather-concerns-in-west-africa-boost-cocoa-prices\/"},"modified":"2025-08-25T18:34:00","modified_gmt":"2025-08-25T22:34:00","slug":"weather-concerns-in-west-africa-boost-cocoa-prices","status":"publish","type":"post","link":"https:\/\/sharewatch.com\/wp\/2025\/08\/25\/weather-concerns-in-west-africa-boost-cocoa-prices\/","title":{"rendered":"Weather Concerns in West Africa Boost Cocoa 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>December ICE NY cocoa (CCZ25) today is up +219 (+2.81%), and September ICE London cocoa #7 (CAU25) did not trade with markets in the UK closed for a bank holiday.<\/p>\n<p>Cocoa prices today are moving higher on concern that cold and dry weather across West Africa&#8217;s cocoa-producing regions is slowing down plant development in the Ivory Coast and proliferating black pod disease in Ghana and Nigeria.<\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-TGI\"  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-TGI')) {             googletag.display('js-dfp-tag-TGI');         }         });     <\/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>Cocoa prices also have support from tighter inventories. \u00a0ICE-monitored cocoa inventories held in US ports fell to a 2.75-month low of 2,189,496 bags last Friday.<\/p>\n<p>Cocoa prices previously rallied to 2-month highs earlier this month on concern about dry weather for Western Africa. \u00a0According to the Commodity Weather Group, the 30 days through August 15 were the driest for the Ivory Coast in 46 years. \u00a0The lack of rain could impact the retention of cocoa pods on trees before the main crop harvest that starts in October.<\/p>\n<p>The slowdown in the pace of cocoa exports from the Ivory Coast is bullish for cocoa prices. \u00a0Today's government data showed that Ivory Coast farmers shipped 1.79 MMT of cocoa to ports this marketing year from October 1 to August 24, up +5.9% from last year but down from the much larger +35% increase seen in December.<\/p>\n<p>Quality concerns regarding the Ivory Coast's mid-crop cocoa, which is currently being harvested through September, are supportive of prices. \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<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-KCU\"  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-KCU')) {             googletag.display('js-dfp-tag-KCU');         }         });     <\/script> <\/div>\n<\/p><\/div>\n<p>Another supportive factor for cocoa is the smaller cocoa production in Nigeria, the world's fifth-largest cocoa producer. \u00a0Nigeria's Cocoa Association projects Nigeria's 2025\/25 cocoa production will fall -11% y\/y to 305,000 MT from a projected 344,000 MT for the 2024\/25 crop year. \u00a0In related news, Nigeria's Jun cocoa exports rose +0.9% y\/y to 14,597 MT.<\/p>\n<p>Weakness in chocolate demand is also a negative factor for cocoa prices. \u00a0Chocolate maker Lindt & Spruengli AG in July lowered its margin guidance for the year due to a larger-than-expected decline in first-half chocolate sales. \u00a0Also, chocolate maker Barry Callebaut AG in July reduced its sales volume guidance for a second time in three months, citing persistently high cocoa prices. \u00a0The company projects a decline in full-year sales volume and reported a -9.5% drop in its sales volume for the March-May period, the largest quarterly decline in a decade.<\/p>\n<p>Weakness in global cocoa demand has been a bearish factor for cocoa prices. \u00a0The European Cocoa Association reported on July 17 that Q2 European cocoa grindings fell by -7.2% y\/y to 331,762 MT, a bigger decline than expectations of -5% y\/y. \u00a0Also, the Cocoa Association of Asia reported that Q2 Asian cocoa grindings fell -16.3% y\/y to 176,644 MT, the smallest amount for a Q2 in 8 years. \u00a0North American Q2 cocoa grindings fell -2.8% y\/y to 101,865 MT, which was a smaller decline than the declines seen in Asia and Europe.<\/p>\n<p>Higher cocoa production by Ghana is bearish for cocoa prices. \u00a0On July 1, the Ghana Cocoa Board projected the 2025\/26 Ghana cocoa crop would increase by +8.3% y\/y to 650,000 from 600,000 MT in 2024\/25. \u00a0Ghana is the world's second-largest cocoa producer. \u00a0<\/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 by 13.1% y\/y to 4.380 MMT. \u00a0ICCO stated that the 2023\/24 global cocoa stocks-to-grindings ratio declined to a 46-year low of 27.0%. \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 four 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-A-o\"  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-A-o')) {             googletag.display('js-dfp-tag-A-o');         }         });     <\/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>Q2 in Soft Commodities- Where are They Heading in Q3 and Beyond?<\/li>\n<li>Where Are Cocoa Prices Heading?<\/li>\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<\/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>December ICE NY cocoa (CCZ25) today is up +219 (+2.81%), and September ICE London cocoa #7 (CAU25) did not trade with markets in the UK closed for a bank holiday. Cocoa prices today are moving higher on concern that cold and dry weather across West Africa&#8217;s cocoa-producing regions is slowing down plant development in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19116,"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-19115","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\/19115","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=19115"}],"version-history":[{"count":0,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts\/19115\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media\/19116"}],"wp:attachment":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media?parent=19115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/categories?post=19115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/tags?post=19115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}