πI am raising my global $COCOA.FUT surplus forecast for 2026 from 630 to 780 thousand ton, due to demand not recovering and being long term destroyed.
In 2026 I expect cocoa demand to recover only by around 1,3% and only if price stays super low. Companies have switched from cocoa to carol, wheat, milk, sugar in scale we couldnt believe is possible. That is bringing us to insane surplus years, where farmers will not be able to sell their stock. They will seek for buyers, but market is gone to different recipes. Chocolate producers expected to bring supper profit. Not investment advice.... Show More
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Tue Feb 17 2026 18:03:23 GMT+0000 (Coordinated Universal Time)
