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Cocoa Crunch: West Africa's Bumper Crop Cools Prices, but Will It Last?

Cocoa Crunch: West Africa's Bumper Crop Cools Prices, but Will It Last?

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This is your Daily Cocoa Price Tracker with Vanessa Clark podcast.

Welcome back to Daily Cocoa Price Tracker, I’m Vanessa Clark, here to keep you up to date on the latest cocoa market news, prices, and trends. Whether you’re a trader, a chocolate lover, or just curious about what’s driving your favorite treats, you’re in the right place.

Let’s kick off with the latest trading price for cocoa. As of today, cocoa futures opened around 6,613 dollars per tonne, according to ICE Futures. That marks only a slight movement from earlier this week, as the market is showing signs of stabilization after months of dramatic ups and downs. Earlier forecasts put prices near 8,337 dollars, but the current trend is reflecting a bit of retreat due to new supply news.

What’s behind today’s prices? Recent reports highlight a bumper crop expectation in West Africa, which is the largest cocoa-producing region in the world. Increased harvest outlooks there have sent cocoa prices down sharply compared to the record highs we saw earlier this year. Demand is also a little sluggish right now, which has helped cool the fiercely competitive market, at least for the moment.

But the story isn’t just about numbers. Chocolate manufacturers, like Mondelez International, are definitely feeling the heat. They’ve faced what they describe as record-high cocoa-cost inflation, with retail prices for chocolate in Europe rising more than fifty percent since 2021. Despite this, companies are investing in cocoa-free chocolate alternatives to cushion themselves against future price swings and unpredictable weather. Barry Callebaut and Cargill, for example, are developing sustainable chocolate solutions that don’t rely solely on traditional cocoa beans.

Climate and weather continue to play a huge role. Cocoa prices soared to all-time highs earlier this year as unpredictable rainfall and crop diseases hit West Africa. Now, with the climate showing moderation and a larger harvest expected, prices are moderating. Experts warn, though, that volatility could return if weather conditions shift again.

So, what’s the actionable takeaway for today’s cocoa investors and enthusiasts? If you’re buying cocoa or chocolate products, you might notice more stable prices at the moment, but keep an eye out for those cocoa-free alternatives—that’s a hot trend for both sustainability and affordability. For traders, technical signals are mixed. While short-term indicators are showing potential buying opportunities around support levels, the broader trend has shifted downward, so it could be a time for caution. Always keep watch for changes in trading volume and harvest reports.

That’s all for today’s Daily Cocoa Price Tracker. Thanks so much for tuning in. If you’re enjoying the show, be sure to subscribe, leave a review, and join me again next time for more inside info on cocoa prices and what’s driving the global chocolate market. Have a sweet day, and I’ll catch you soon.

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This content was created in partnership and with the help of Artificial Intelligence AI
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