{"id":7931,"date":"2025-04-24T17:57:00","date_gmt":"2025-04-24T21:57:00","guid":{"rendered":"https:\/\/sharewatch.com\/wp\/2025\/04\/24\/cocoa-prices-settle-moderately-higher-on-supply-concerns\/"},"modified":"2025-04-24T17:57:00","modified_gmt":"2025-04-24T21:57:00","slug":"cocoa-prices-settle-moderately-higher-on-supply-concerns","status":"publish","type":"post","link":"https:\/\/sharewatch.com\/wp\/2025\/04\/24\/cocoa-prices-settle-moderately-higher-on-supply-concerns\/","title":{"rendered":"Cocoa Prices Settle Moderately Higher on Supply Concerns"},"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) Thursday closed up +250 (+2.81%), and May ICE London cocoa #7 (CAK25) closed up +59 (+0.93%).<\/p>\n<p>Cocoa prices on Thursday settled moderately higher but remained below Wednesday&#8217;s significant highs. \u00a0On Wednesday, NY cocoa posted a 2-1\/2 month high, and London cocoa posted a 2-1\/2 week high on supply concerns. \u00a0Recent Ivory Coast cocoa exports have slowed, supporting prices. \u00a0Tuesday&#8217;s government data showed that Ivory Coast farmers shipped 1.48 MMT of cocoa to ports this marketing year from October 1 to April 20, up +11.3% from last year but down from the much larger 35% rise seen in December.<\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-7hI\"  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-7hI')) {             googletag.display('js-dfp-tag-7hI');         }         });     <\/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 a positive carryover from last week's 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>Concern about the Ivory Coast's upcoming mid-crop is supportive of cocoa prices. \u00a0On April 3, NY cocoa rose to a 2-month high on signs of a weak mid-crop cocoa harvest in West Africa. \u00a0According to Rabobank, late-arriving rains in the region have limited crop growth, and recent cocoa farmer surveys from the Ivory Coast and Ghana have been disappointing. \u00a0 The mid-crop is the smaller of two annual cocoa harvests, which typically starts this month. \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>Since 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 6-1\/4 month high Thursday of 1,939,791 bags. \u00a0<\/p>\n<p>Earlier this month, NY cocoa fell to a 1-month low, and London cocoa dropped to a 5-month low due to concern that consumer demand for cocoa and cocoa products will decline as the global trade war escalates and tariffs 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.<\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-d4c\"  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-d4c')) {             googletag.display('js-dfp-tag-d4c');         }         });     <\/script> <\/div>\n<\/p><\/div>\n<p>An improving supply outlook is negative for cocoa prices. \u00a0On February 28, the International Cocoa Organization (ICCO) 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.<\/p>\n<p>Demand concerns are weighing on cocoa prices. \u00a0Executives from chocolate makers Hershey and Mondelez recently warned that high prices are hurting demand. \u00a0On February 4, Mondelez executives warned of a potential slowdown in chocolate demand when CFO Zarmella said, \"We are seeing signs, particularly in parts of the world like North America, where cocoa consumption is coming down.\" \u00a0Also, on February 18, the company warned that chocolate prices could rise as much as 50% due to the surge in cocoa prices, which would curb chocolate demand. \u00a0In addition, Hershey executives said on February 6 that high cocoa prices are forcing it to reformulate recipes by replacing cocoa with other ingredients. \u00a0<\/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 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.\u00a0<\/p>\n<p class=\"body__disclaimer\">     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. <\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-KQo\"  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-KQo')) {             googletag.display('js-dfp-tag-KQo');         }         });     <\/script> <\/div>\n<\/p><\/div>\n<\/p>\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) Thursday closed up +250 (+2.81%), and May ICE London cocoa #7 (CAK25) closed up +59 (+0.93%). Cocoa prices on Thursday settled moderately higher but remained below Wednesday&#8217;s significant highs. \u00a0On Wednesday, NY cocoa posted a 2-1\/2 month high, and London cocoa posted a 2-1\/2 week high on supply concerns. \u00a0Recent [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7932,"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-7931","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\/7931","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=7931"}],"version-history":[{"count":0,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts\/7931\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media\/7932"}],"wp:attachment":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media?parent=7931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/categories?post=7931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/tags?post=7931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}