Cocoa futures on ICE were trading around $2,600 a tonne, getting closer to a 6-month high of $2,750 hit earlier this month, amid expectations that supplies could tighten in the upcoming 2021/22 season, mainly driven by a drop in Ghana's output, the second-largest producer of cocoa. Production in West Africa in the upcoming 2021/22 is expected to decrease by at least 12.5% amid late and heavy rains. However, the International Cocoa Organization projected a global cocoa surplus of 230,000 tonnes in the current 2020/21 season, up from a previous projection of 165,000 tonnes. .

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

Cocoa is expected to trade at 2488.62 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 1,284.25 1.5000 0.12% -3.95% 28.52%
Wheat 717.75 12.0000 1.70% -0.03% 30.26%
Lumber 640.00 13.00 2.07% 33.31% 10.61%
Cheese 1.64 -0.0070 -0.42% 3.99% -6.39%
Palm Oil 4,452.00 122.00 2.82% 3.46% 61.48%
Milk 16.54 -0.06 -0.36% 3.18% 1.78%
Cocoa 2,612.00 -40.00 -1.51% 0.85% 0.50%
Cotton 92.14 0.31 0.34% -3.78% 44.04%
Rubber 186.50 -0.50 -0.27% -8.35% -14.41%
Orange Juice 142.00 1.95 1.39% 0.32% 32.83%
Coffee 191.00 6.15 3.33% 4.20% 71.84%
Oat 580.00 22.2500 3.99% 13.95% 103.51%
Wool 1,368.00 -1.00 -0.07% 2.47% 32.05%
Rice 13.83 -0.0550 -0.40% 3.40% 10.11%
Canola 875.70 8.30 0.96% -2.52% 71.37%
Sugar 19.49 0.16 0.83% -0.46% 51.79%
Tea 3.05 0.32 11.72% -15.51% 19.61%
Corn 529.00 3.5000 0.67% -2.85% 45.73%



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.