Cocoa futures jump more than 6.6%, with New York at a 6-month high and London at a 9.25-month high
AI Market Summary
Cocoa futures surged as Barry Callebaut reported a 5.7% Q3 volume increase, indicating demand is stabilizing after a prolonged downturn. Supply risks are rising: heavy rains in Ivory Coast and Ghana are disrupting logistics and elevating disease risk, while forecasts for a potentially strong El Niño and early 2026/27 crop surveys point to weaker West African output. Higher ICE inventories and strong port arrivals temper the near-term tightness narrative.
Impact level
● Medium
Affected assets
NCCOCOCOA2USD/USDT-4.01%
AI Insight · NCCOCOCOA2USD/USDTAI Insight
▲ Bullish
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Cocoa futures in New York and London rallied more than 6.6% on Thursday, pushing New York to a six-month high and London to a 9.25-month high. The move followed Barry Callebaut’s report that fiscal Q3 sales volumes rose 5.7%, the first increase in more than two years. Heavy rains in Ivory Coast and Ghana have disrupted logistics and raised disease risks, while an El Niño warning has added to concerns about drier conditions in West Africa. Early surveys for Ivory Coast’s 2026/27 crop point to an average estimate of 1.8 MMT, down 18% from about 2.2 MMT in 2025/26, even as port arrivals are up 20% year on year and inventories have climbed to a near two-year high.
