Market Movement
London cocoa futures (LCCc2) surged 7.2% on Wednesday, closing at £3,753 per metric ton and briefly touching £3,793, the highest level in five months. In New York, the cocoa contract (CCc2) gained 7.1% to $5,040 per ton, also marking a five‑month peak.
Supply‑Side Factors
Two sources at Ivory Coast’s cocoa regulator indicated that the country, the world’s largest cocoa producer, has temporarily stopped selling export contracts for its 2026/27 main crop while it awaits a clearer production estimate, raising concerns about future supply.
Related Commodity Prices
Arabica coffee (KCc2) settled up 1.25 cents, or 0.5%, at $2.772 per pound, after reaching $2.8480 earlier in the session, nearing a six‑week high.
Coffee Harvest Update
Cooxupe, Brazil’s largest coffee cooperative, reported that as of June 19, 2026, its members had harvested 20.1% of the 2026 coffee crop, compared with 24.3% at the same time in the previous year, reflecting a slowdown due to rain‑delayed fieldwork.
Weather Context
Traders cited El Niño weather patterns as a potential factor that could reduce cocoa output in West Africa during the 2026/27 season, contributing to the price rally.