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# March 2025 Cocoa Market: Prices stabilize amid weak demand, rising stocks, and US tar​iff Concerns
- URL: https://cocoaradar.com/march-2025-cocoa-market-prices-stabilize-amid-weak-demand-rising-stocks-and-us-tariff-concerns/
- Published: 2025-04-17T15:16:55.000Z
- Updated: 2025-04-17T15:16:55.000Z
- Description: According to the International Cocoa Organization’s (ICCO) March 2025 report, cocoa prices experienced a pullback from previous highs and remained range-bound
- Author: Anthony Myers
- Tags: market report, cocoa

💡

****Cocoa trading at 8439.485 USD/T on Thursday, April 17, a 367.397 USD/T (4.55%) increase from 8072.088 on the last trading session..**

The front-month contract in London averaged US$8,100 per tonne, fluctuating between US$7,844 and US$8,326 per tonne. In New York, the average price was US$8,055 per tonne, with a range of US$7,728 to US$8,415 per tonne. ​ 

The front-month contract generally traded at a discount compared to the second-month contract, indicating no supply tightness, according to the ICCO.

### Ivorian mid-crop

Despite concerns about the Ivorian mid-crop due to insufficient rainfall, prices did not react significantly, as improved production forecasts from other major cocoa-producing countries were expected to offset potential losses, the ICCO reported.

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### Stocks

Additionally, cocoa demand weakened, contributing to bearish price developments. ​ Cocoa bean stocks increased significantly during March 2025, with a 68% rise in London and a 25% rise in New York. ​

Global macroeconomic uncertainty, driven by anticipated US tariffs, also influenced market sentiment, though the tariffs were not yet implemented during March and are not included in the latest ICCO report.

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### Snapshot: Cocoa Market Update - March 2025 ​

- Cocoa prices averaged US$8,100/tonne in London and US$8,055/tonne in New York, with no supply tightness observed. ​
- Weak demand and rising stock levels (68% in London, 25% in New York) contributed to bearish price trends. ​
- Better production forecasts from other countries offset concerns about Cote d’Ivoire’s mid-crop. ​
- Additionally, anticipation of US tariffs caused market uncertainty, though they were not yet implemented in March. ​

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### So what's influencing cocoa prices?

Cocoaradar.com can reveal that several factors influenced cocoa prices in March 2025, including:

**Supply Conditions**: The front-month contract traded at a discount to the second-month contract, indicating no supply tightness. ​ Concerns about the Ivorian mid-crop arose due to insufficient rainfall, but improved production forecasts from other major cocoa-producing countries were expected to offset potential losses. ​

**Demand Weakness**: A weakening in cocoa demand contributed to bearish price developments. ​ Quarterly grindings data, expected in mid-April, were anticipated to provide further insights into demand trends. ​

**Stock Levels**: Cocoa bean stocks increased significantly during March 2025, with a 68% rise in London and a 25% rise in New York, which likely exerted downward pressure on prices. ​

**Macroeconomic Uncertainty**: Anticipation of US tariffs caused market jitters, as participants feared global economic uncertainty and potential trade wars. ​ However, the ICCO also reported that the tariffs had not yet been implemented during March. ​

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