Ivory Coast port arrivals hit 2.14 MMT, pressuring cocoa as ICE New York December falls 2.97%
AI Market Summary
Cocoa is under pressure as Ivory Coast port arrivals reached 2.14 MMT in the current marketing year (+19% y/y) and ICE inventories climbed to a two-year high, signaling ample near-term supply. While Ghana 2026/27 output is projected lower and early Ivory Coast crop surveys flag weaker pod development, the immediate balance skews toward softer pricing as supply and stocks weigh on sentiment.
Impact level
● Medium
Affected assets
NCCOCOCOA2USD/USDT-3.59%
AI Insight · NCCOCOCOA2USD/USDTAI Insight
▼ Bearish
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Cocoa prices weakened as larger supplies from the Ivory Coast weighed on sentiment, with cumulative arrivals reaching 2.14 MMT in the current marketing year, up 19% from a year earlier. December ICE New York cocoa fell 2.97%, while December ICE London cocoa slipped 0.91% after retreating from an 11-month high. Ghana’s Cocoa Board estimates 2026/27 output at 650,000 MT, down 13% from 750,000 MT last year. Early assessments of the 2026/27 Ivory Coast crop put the season at an average 1.8 MMT, down 18% from about 2.2 MMT in 2025/26.
