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2026.03.3014:01:29UTC+00Cocoa Futures Remain Subdued

Cocoa futures hovered around $3,100 per tonne, near their lowest levels since May 2023, as market fundamentals continued to be pressured by expectations of a bumper crop in West Africa. Favorable weather in Ivory Coast, the world’s leading producer, has improved the outlook for the mid-crop harvest, which runs from March to August. Rainfall in recent weeks has exceeded historical averages across most major growing regions, bolstering expectations for a longer and more productive harvest.

Abundant supply is also weighing on prices. ICE-monitored cocoa inventories climbed to an eight-month high of 2,357,294 bags as of March 27. At the same time, demand remains a key concern. Dealers noted that the market is watching closely for first-quarter cocoa grinding data from Europe and North America, scheduled for release on April 16.

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