Cocoa bean prices continue to decline, reaching their lowest level since October 2023.

After a historic rally driven by:

• supply shortages in West Africa
• adverse weather conditions
• crop disease concerns
• speculative momentum

…the market is now undergoing a sharp correction.

📉 Profit-taking after extreme price surge 🌧 Improved crop expectations in key producers 💰 Reduced speculative positioning 📊 Demand concerns amid high end-product prices

Cocoa had been one of the strongest-performing commodities of the past cycle, so volatility during normalization is not unexpected.

If prices continue to ease:

• pressure on chocolate manufacturers may decline
• food inflation expectations could moderate
• speculative flows may rotate into other soft commodities

However, cocoa remains structurally sensitive to:

🌍 West African weather patterns 🚢 export logistics 📦 global demand trends

Soft commodities are often among the most volatile segments of the commodity complex — and cocoa remains no exception.