Cocoa Market Report for March 2025
Abidjan, 11 April 2025 – The International Cocoa Organization releases the Cocoa Market Report for March 2025. The current report highlights the following insights:
- In March 2025, cocoa futures prices retreated from the highs and remained range bound. In London, the front-month contract averaged US$8,100 per metric ton and ranged between US$7,844 and US$8,326 per metric ton, while in New York it averaged US$8,055 per metric ton and ranged between US$7,728 and US$8,415 per metric ton.
- Although the supply side of the market was less of a concern in March 2025, there was pessimism regarding the Ivorian mid-crop as reports indicated that more rain was needed at that time.
- Another aspect to consider is that with production forecasts for other major producing countries likely to be better than the 2023/24 season, it is likely that production from other countries could offset the projected losses from the Ivorian mid-crop. As such, prices did not react significantly at the time to views of an expected poor mid-crop from Côte d’Ivoire.
- The weakening of cocoa demand also played a role in the bearish trend observed in cocoa prices.
- US tariffs were implemented. Although a 90 day reprieve for all countries except China came into effect on April 9, 2025, a universal tariff of 10% applies to all exports to the United States.
Caution should be exercised in the interpretation of the following steps as they are just guidelines.
You can download the complete report by clicking here.
