September ICE cocoa futures slide for a second session as Ivory Coast shipments rise to 2.07 MMT
AI Market Summary
Cocoa futures fell for a second session as near-term supply fears eased: Ivory Coast port arrivals are up 21% y/y to 2.07 MMT and ICE inventories rose to a near two-year high (3.15m bags). These data points are pressuring prices despite medium-term supportive themes, including El Niño-related weather risk, early signs of a smaller 2026/27 crop, and a tentative improvement in processor demand.
Impact level
● Medium
Affected assets
NCCOCOCOA2USD/USDT+0.44%
AI Insight · NCCOCOCOA2USD/USDTAI Insight
▼ Bearish
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September ICE New York cocoa (CCU26) fell 3.96% and September ICE London cocoa #7 (CAU26) dropped 3.40%, extending losses to a second day. The decline followed Ivory Coast data showing cumulative shipments of 2.07 MMT in the current marketing year, up +21% from a year earlier, easing near-term supply concerns. ICE cocoa inventories also climbed to a nearly 2-year high of 3,151,790 bags, adding pressure. While El Niño risks and expectations for a smaller West Africa crop underpin the medium-term outlook, near-term supply indicators have been driving prices.
