03.11.202515:47:47UTC+00Cocoa Futures Jump

Cocoa futures have surged by over 5%, reaching approximately $6,485 per tonne, marking the highest point since early October. This upward trend follows the confirmation that cocoa will be reintegrated into the Bloomberg Commodity Index, which is expected to draw substantial fund inflows. A reduction in ICE-monitored cocoa inventories has also contributed to the price increase, with stocks at U.S. ports dropping to a seven-month low of 1,815,627 bags as of October 31. Concurrently, there has been a noticeable increase in cocoa shipments to Ivory Coast ports, rising to 90,000 tons from October 27 to November 2, up from 80,000 tons the preceding week. Additionally, there remains a sense of optimism regarding robust harvests in West Africa, reinforcing projections of a global supply surplus. Local farmers have observed that the combination of sufficient rainfall and prolonged sunny periods is likely to produce a high-quality cocoa crop for the October-to-March season in the country's key production areas.