Ghana’s 2025/26 Cocoa Harvest Hits 750,000 MT, Adding Pressure to Prices
AI Market Summary
Cocoa prices are pressured by evidence of improving near-term supply: Ghana's 2025/26 harvest is reported up 25.6%, Ivory Coast port arrivals are up 20% y/y, and Nigerian exports rose 30% y/y, alongside ICE inventories at a two-year high. Demand signals are mixed, with Europe grinding weaker but Asia and North America stronger. A softer DXY is cushioning broader commodity losses, limiting cocoa downside.
Impact level
● Medium
Affected assets
NCCOCOCOA2USD/USDT+0.10%
AI Insight · NCCOCOCOA2USD/USDTAI Insight
▼ Bearish
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Ghana’s 2025/26 cocoa harvest has reached 750,000 tons, up 25.6% year on year, adding to signs of improving supply. In Ivory Coast, farmers have shipped a cumulative 2.11 million tons to ports in the current marketing year, up 20% from the same period a year earlier. Nigeria’s June cocoa exports rose 30% year on year to 18,922 tons, while Asia’s Q2 grindings jumped 25% to 224,646 tons, far above expectations. With supply rising, cocoa prices are under pressure and ICE futures are slightly lower.
