Cocoa Futures Rise as Ivory Coast Port Deliveries Drop 41%
Cocoa futures traded higher as initial port deliveries in Ivory Coast, the world's primary producer, fell significantly at the start of the harvest season. Government figures showed farmers delivered 78,212 metric tons of cocoa to ports between October 1 and October 18, representing a 41 percent decline compared to 133,209 metric tons delivered during the same window last year. Heavy rains in the region have flooded roads and damaged bridges, delaying harvesting and transport.
The supply disruptions add to broader medium-term concerns about West African cocoa yields. Early assessments for the 2026/27 Ivory Coast main crop point to poor pod development, with output projected to drop 18 percent to 1.8 million metric tons. Additionally, Ghana estimates its 2026/27 crop will fall 13 percent to 650,000 metric tons due to crop disease, aging trees, and weather risks tied to a strong El Niño pattern. Meanwhile, third-quarter global demand showed strength in Asia and Europe, offset by a drop in North American processing.
Investors are monitoring whether improving weather can ease logistics bottlenecks in West Africa or if persistent moisture will expand crop disease. Market participants will also track inventory levels, which reached a 2.25-year high of 3,593,964 bags, providing a buffer against ongoing harvest delays.
Key points
- Ivory Coast cocoa port deliveries fell 41% year-over-year to 78,212 metric tons between October 1 and October 18.
- Heavy rainfall in West Africa damaged infrastructure, restricting farm access and slowing early harvest transport.
- Forecasts for the 2026/27 Ivory Coast main crop project an 18% production decline to 1.8 million metric tons.
- Third-quarter cocoa processing grew 29% in Asia and 3.2% in Europe, while falling 2.5% in North America.
- Exchange-monitored cocoa inventories reached a 2.25-year high of 3,593,964 bags.
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How we writeDisclaimerQuestions and answers
Why are cocoa prices rising?
Cocoa prices are rising due to a 41 percent drop in early port deliveries from Ivory Coast, where heavy rainfall has damaged roads and delayed harvest transport.
How much did Ivory Coast cocoa deliveries fall?
Farmers delivered 78,212 metric tons of cocoa to Ivory Coast ports between October 1 and October 18, down 41 percent from 133,209 metric tons in the same period last year.
What is the production outlook for West African cocoa?
The 2026/27 Ivory Coast cocoa crop is projected to fall 18 percent to 1.8 million metric tons, while Ghana expects output to drop 13 percent to 650,000 metric tons due to poor weather and crop disease.