Irene Scott/AusAID
The value of March cocoa futures in New York dropped by 5.9% on Friday, with the price declining to $3,931 per ton, marking the lowest level since November 2023.
In December 2024, the price of cocoa beans surpassed $12,000 per ton, primarily because of poor harvests in West African nations. High prices have caused a drop in consumer demand for chocolate, prompting manufacturers to alter their formulations by using less expensive alternatives and including more fillers like nuts, according to Bloomberg.
Companies in Europe, which is the world's largest region for consuming cocoa beans, decreased their processing volumes to the lowest level seen in the fourth quarter since these statistics began in 2013. With more cocoa beans being produced by major suppliers, the global supply is expected to surpass demand in the near future.
Last week, StoneX, a brokerage company, confirmed the prediction of a surplus of cocoa beans in the global market for the 2025/2026 growing season, which runs from October 2025 to September 2026. The forecast indicates an oversupply of 287,000 tons, attributed to increased production in Côte d'Ivoire and Ghana. The expected surplus for the upcoming agricultural year is estimated to be 267 thousand tons.
source: bloomberg.com
In December 2024, the price of cocoa beans surpassed $12,000 per ton, primarily because of poor harvests in West African nations. High prices have caused a drop in consumer demand for chocolate, prompting manufacturers to alter their formulations by using less expensive alternatives and including more fillers like nuts, according to Bloomberg.
Companies in Europe, which is the world's largest region for consuming cocoa beans, decreased their processing volumes to the lowest level seen in the fourth quarter since these statistics began in 2013. With more cocoa beans being produced by major suppliers, the global supply is expected to surpass demand in the near future.
Last week, StoneX, a brokerage company, confirmed the prediction of a surplus of cocoa beans in the global market for the 2025/2026 growing season, which runs from October 2025 to September 2026. The forecast indicates an oversupply of 287,000 tons, attributed to increased production in Côte d'Ivoire and Ghana. The expected surplus for the upcoming agricultural year is estimated to be 267 thousand tons.
source: bloomberg.com