Cocoa Prices Retreat From Three-Week Highs

Cocoa futures eased to around $5,640 a tonne, pulling back slightly after recent gains lifted prices to near three-week highs. The market remains range-bound, caught between ample current supplies and a deteriorating outlook for 2026/27 linked to El Niño. Ivory Coast’s main crop is expected to fall about 17% this season, while farmers recently warned that upcoming rains should ease drought concerns but may not fully support recovery in young pods. Cocoa arrivals at Ivorian ports reached 18,000 tonnes in the week to October 4, taking the season total to 54,500 tonnes. Meanwhile, third-quarter grinding data from Europe and North America, due October 15, will be closely watched for further clues on demand.