Cocoa futures on ICE fell below $2,430 per tonne in May, the lowest in over 5 months amid expectations of higher production among largest producers. Higher precipitation in growing regions of the Ivory Coast improved the outlook for the mid-crop in the world’s top producer. Farmers from Ghana also reported favorable growing conditions. In the meantime, downward pressure in prices also tracked a lower global demand amid soaring inflation and recession fears.

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

Cocoa is expected to trade at 2537.63 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 2708.70 in 12 months time.

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Cocoa



Price Day Month Year
Soybeans 1,705.25 14.75 0.87% -0.83% 11.73%
Wheat 1,168.75 -31.75 -2.64% 8.57% 73.34%
Lumber 670.70 -19.80 -2.87% -34.57% -53.84%
Cheese 2.41 -0.0020 -0.08% 5.52% 32.47%
Palm Oil 6,109.00 37.00 0.61% -3.23% 53.07%
Milk 25.09 -0.03 -0.12% 3.21% 32.40%
Cocoa 2,429.00 -28.00 -1.14% -4.37% -1.10%
Cotton 142.27 -5.43 -3.68% 2.66% 71.78%
Rubber 244.50 1.10 0.45% -8.63% -5.56%
Orange Juice 173.45 5.55 3.31% 0.26% 47.05%
Coffee 216.40 -2.30 -1.05% -5.15% 44.17%
Oat 612.00 -15.7500 -2.51% -13.68% 71.91%
Wool 1,434.00 0 0% 4.90% 9.05%
Rice 17.17 0.1800 1.06% 3.53% 30.19%
Canola 1,170.70 20.70 1.80% -0.70% 32.55%
Sugar 19.97 0.20 1.01% 0.50% 19.80%
Tea 2.69 0 0% -4.61% -10.93%
Corn 777.75 -5.5000 -0.70% -2.20% 17.93%


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
2429.00 2457.00 5379.00 211.00 1959 - 2022 USD/MT Daily