• Côte d’Ivoire has pre-sold 850,000 tons of 2025/26 cocoa, nearing the 1.3M ton cap

• The cap aims to reduce delivery risks amid uncertain weather

• High cocoa prices prompt Barry Callebaut to forecast a 7% sales drop
  

Côte d’Ivoire has already sold 850,000 metric tons of cocoa export contracts for the 2025/2026 season, putting authorities ahead of schedule on forward sales despite a reduced total projected volume of 1.3 million metric tons, sources close to the Coffee-Cocoa Council (CCC) told Reuters. The regulator had initially aimed to reach this target by August.

In June, the CCC capped forward sales for the 2025/2026 season at 1.3 million metric tons, a decrease from the usual 1.7 million metric tons. This move is intended to give the CCC flexibility and reduce the risk of delivery defaults if production falls short due to unfavorable weather conditions.

While the strong performance of forward sales is generally positive for the sector, many analysts highlight the challenges of the global market environment. Global prices have eased since last year but remain about 1.5 times higher than a year ago, raising concerns over demand. On July 10, Barry Callebaut, the world’s largest chocolate maker, said it expects a 7% decline in sales volume for the fiscal year ending August 31, citing price volatility.

Espoir Olodo