Cocoa prices have surged above $5,700 per tonne—the highest level since July 15—after Ghana forecast a sharp drop in cocoa output for the 2026/27 season. The industry regulator, COCOBOD, expects production to decline by at least 16%, attributing the fall to adverse weather conditions, the cocoa tree’s natural alternate-bearing cycle, disease pressure, ageing plantations, and the impact of illegal gold mining.
Supply concerns have been further amplified by projections that Ivory Coast’s cocoa production will fall by more than 10% next season. Although overall crop prospects remain broadly positive for now, farmers stress the need for increased sunshine and the timely application of fertilizers and pesticides. They also caution that excessive rainfall later in the season could heighten disease risks and further tighten global cocoa supplies.
