Cocoa futures on ICE extended losses toward $2,600 a tonne, the lowest since September 29th amid lower demand. Europe's cocoa grind rose 8.7% from a year earlier to 375,811 tonnes in Q3, less than market expectations and only 3.5% above pre-pandemic levels in 2019. Meanwhile, supply concerns in West Africa’s plentiful cocoa-growing regions eased after sporadic sun spells encouraged farmers' hopes for a bountiful main crop, calming fears that a fungal epidemic could hinder harvest quality.

Historically, Cocoa reached an all time high of 5379 in July of 1977. Cocoa - data, forecasts, historical chart - was last updated on October of 2021.

Cocoa is expected to trade at 2624.32 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 2918.14 in 12 months time.

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Cocoa


Price Day Month Year
Soybeans 1,221.50 3.7500 0.31% -3.25% 15.89%
Wheat 736.25 2.2500 0.31% 5.07% 17.42%
Lumber 758.10 -1.80 -0.24% 27.73% 37.66%
Cheese 1.78 0 0% 8.14% -21.72%
Palm Oil 4,948.00 -13.00 -0.26% 18.57% 78.24%
Milk 17.93 -0.01 -0.06% 7.95% -16.14%
Cocoa 2,623.00 16.00 0.61% 1.16% 8.16%
Cotton 107.02 -0.31 -0.29% 17.82% 50.39%
Rubber 208.00 -2.30 -1.09% 11.23% -12.57%
Orange Juice 118.40 -3.50 -2.87% -14.11% 1.33%
Coffee 202.10 -1.30 -0.64% 10.14% 90.57%
Oat 657.25 -1.0000 -0.15% 23.49% 120.92%
Wool 1,323.00 0 0% -2.15% 18.44%
Rice 13.85 -0.0050 -0.04% 0.91% 11.25%
Canola 921.00 5.50 0.60% 6.96% 72.76%
Sugar 19.28 -0.52 -2.63% 2.23% 30.98%
Tea 2.96 0 0% 8.42% 10.45%
Corn 532.75 7.0000 1.33% 2.11% 31.46%


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.