Cocoa futures on ICE fell to the $2,400 level in late November, amid concerns about a fall in demand due to China's covid spike and slowing global growth and as supply worries eased. Cocoa prices touched a 6-month high of $2558 on November 10th, after a strike by dock workers in Ivory Coast blocked cocoa bean arrivals at ports. At the same time, both Ivory Coast and Ghana which together account for 60% of the world’s cocoa, have vowed to charge a premium of US$400 per tonne on all cocoa sales. Also, fertilizers costs remain elevated and an outbreak of black pod disease in some west-African growing areas threatens production for the 2021/2022 season.

Historically, Cocoa reached an all time high of 5379 in July of 1977. Cocoa - data, forecasts, historical chart - was last updated on November of 2022.

Cocoa is expected to trade at 2357.01 USD/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 2199.50 in 12 months time.

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Cocoa



Price Day Month Year
Soybeans 1,434.25 6.25 0.44% 3.84% 13.25%
Wheat 793.01 -0.49 -0.06% -5.00% -3.94%
Lumber 432.00 2.30 0.54% -14.71% -45.42%
Cheese 2.09 0.0010 0.05% -3.19% 19.76%
Palm Oil 4,040.00 -65.00 -1.58% -2.11% -18.00%
Milk 21.04 0.01 0.05% -3.49% 17.21%
Cocoa 2,397.00 16.00 0.67% 2.57% -2.40%
Cotton 82.90 0.48 0.58% 9.45% -31.13%
Rubber 126.70 -0.40 -0.31% 2.92% -30.04%
Orange Juice 206.40 -0.95 -0.46% -5.30% 60.69%
Coffee 160.45 -1.35 -0.83% -15.73% -34.86%
Oat 394.75 -5.0000 -1.25% 8.97% -47.40%
Wool 1,232.00 0 0% -6.88% -8.13%
Rice 18.01 0.0650 0.36% 8.66% 24.55%
Canola 820.20 -8.90 -1.07% -8.54% -20.63%
Sugar 19.55 -0.19 -0.96% 7.83% -1.91%
Tea 2.82 -0.02 -0.70% 2.17% -7.84%
Corn 663.25 6.5000 0.99% -3.35% 14.50%


Cocoa
Cocoa is traded on New York Mercantile Exchange (NYMEX) and the Intercontinental Exchange (ICE) in London. The prices in New York are based on the South-Asian market and prices in London are based on cocoa from Africa. The size of each cocoa contract on the NYMEX is 10 metric tons.The biggest producers of cocoa are Ivory Coast and Ghana which together account for more than 60% of the world’s output. Other major producers include: Indonesia, Nigeria, Cameroon, Ecuador and Brazil. Although cocoa is one of the world’s smallest soft commodity markets, it has global implications on food and candy producers, and the retail industry. Cocoa prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments.
Actual Previous Highest Lowest Dates Unit Frequency
2397.00 2381.00 5379.00 211.00 1959 - 2022 USD/MT Daily