TSX:AEM 3 December 2025

March 19, 2026, 4:39 PM EDT. May ICE cocoa futures in New York and London rose over 2% on Thursday, boosted by a weaker U.S. dollar that triggered short covering. Cocoa prices initially declined amid an improving supply outlook, with West African rains enhancing pod development and inventories reaching a 7.5-month high at over 2.3 million bags. However, demand signals have been mixed; Ivory Coast and Ghana, which produce over half the world's cocoa, recently cut farmer payments sharply, impacting supply costs. Meanwhile, global shipping rate increases due to the closure of the Strait of Hormuz and slower Ivory Coast port shipments have propped up prices. Still, consumer demand woes persist, highlighted by declines in sales and grindings reported by major chocolate makers and associations across Europe, Asia, and North America.