LONDON: Cocoa prices are expected to extend their recent gains by year-end, with production in West Africa set to fall as a super El Nino weather pattern looms, a Reuters poll of 11 traders and analysts showed on Monday.
London cocoa futures on ICE were seen ending 2026 at £4,450 a metric ton, up 7.2percent from Friday’s close and 1.8percent higher than levels seen at the end of 2025, according to the median forecast of poll participants.
New York cocoa was seen ending the year at USD6,000 per ton, up 5.7percent from Friday’s close but 1.7percent lower than end-2025 levels.
London and New York cocoa prices fell sharply in the first quarter of this year as weak global demand led to a build-up in stocks in West Africa.
Both markets, however, gained some 50percent in the second quarter and have proceeded higher so far this month.
“Not only are crops poorer already but a Super El Nino will....
