⛏Cocoa Futures
COCOA
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Heavy rains in Ivory Coast and Ghana threaten cocoa supply, driving prices sharply higher.
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Cocoa prices surged to five-and-a-half-month highs as heavy rains in Ivory Coast and Ghana flooded roads and cut off farmers' access to farms and ports, threatening global supplies. September ICE NY cocoa rose 257 dollars, or 5.17 percent, and July ICE London cocoa gained 158 pounds, or 4.23 percent. Accumulated June rainfall through Monday has already reached levels near the typical average for the entire month in both countries, and excessive moisture increases the risk of brown rot disease on cocoa trees, reducing yields and jeopardizing the harvest. Prices also found support from the confirmation of an El Niño weather pattern, which typically brings drier conditions to West Africa, and from early surveys showing below-average cherelle formation for the upcoming 2026/27 main crop. These bullish factors outweighed recent pressure from signs of abundant supply, including an 18.9 percent year-on-year increase in Ivorian cocoa shipments to ports this season and ICE cocoa inventories rising to a one-and-three-quarter-year high.
Heavy rains in Ivory Coast and Ghana threaten cocoa supply, driving prices sharply higher.