The cocoa crash explained

Cocoa futures in London and New York have had a rough start to the new year, plummeting 30% YTD following a wave of bearish fundamentals hitting the market in January. In this podcast, Carlos Mera and Oran van Dort discuss the latest crash, explaining the role of deteriorating demand, evidence of easing market tightness, favorable West African weather, and the significant influence of speculators, as well as the impact on the forward balance sheet and both the short- and long-term price outlook. Disclaimer: Please refer to our global RaboResearch disclaimer at for information about the scope and limitations of the material published on the podcast.

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The cocoa crash explained is an episode from RaboResearch Agri Commodities by RaboResearch Agri Commodities.

This episode is 12:58 long.

This episode was published on Feb 9, 2026.

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