Couverture de Cocoa Crash: Ghana Farmers Protest as Prices Plunge 70% from Historic Highs

Cocoa Crash: Ghana Farmers Protest as Prices Plunge 70% from Historic Highs

Cocoa Crash: Ghana Farmers Protest as Prices Plunge 70% from Historic Highs

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This is your Daily Cocoa Price Tracker with Vanessa Clark podcast.

Hey friends, welcome back to Daily Cocoa Price Tracker with Vanessa Clark. I'm your host Vanessa, and today we're diving into the latest on cocoa prices, global surpluses, and big news from West Africa that every chocolate lover and investor needs to hear.

Right now, cocoa futures are sliding hard, hitting fresh lows around $3,500 to $3,600 per tonne. That's down over 70 percent from those crazy peaks above $10,000 last year, according to the International Cocoa Organization and recent ICE exchange data. Buyers are pulling back as supplies build up, with ICE inventories climbing to over 2 million bags and forecasts from StoneX predicting a massive global surplus of 287,000 metric tons this 2025-2026 season.

In Ghana, the second-biggest producer, farmers are furious after the government slashed the farmgate price by 28 percent to about GH¢2,587 per 64-kilogram bag, or GH¢41,392 per tonne. MyJoyOnline reports protests today in Western North, with crowds marching under signs like Restore Our Price Now, saying costs for fertilizer and labor are eating them alive. Ivory Coast might follow suit soon, Reuters sources say, to match the slump and avoid cocoa smuggling across borders.

Demand is soft too, with grindings down sharply in Europe by 8 percent and Asia by nearly 5 percent, per industry reports. Barry Callebaut even saw a 22 percent sales drop as folks cut back on pricey chocolate. But hey, better harvests in West Africa mean more supply ahead, so prices could dip further.

Actionable tip: If you're trading or stocking up on chocolate products, watch Ghana and Ivory Coast announcements closely, and consider hedging against more volatility. Diversify into stable alternatives like robusta coffee, now trading at similar levels in Cameroon.

Thanks for tuning in, pals. Subscribe, share with your cocoa-curious friends, and catch you next time on Daily Cocoa Price Tracker!

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