Cocoa futures rose toward $4,180 per tonne, the highest in nearly two weeks, driven by weather-related factors and intense short covering. The main trigger came from the Ivory Coast, the world’s largest cocoa producer, where heavy rains caused flooding in key growing regions, disrupting farming activity and logistics and raising concerns over supply flows and quality. The market has also increasingly priced in climate risks, with the potential formation of an El Niño event returning to focus and raising concerns over West African cocoa crop in the coming months. The phenomenon is associated with volatile global weather patterns, including both excess rainfall and drought conditions depending on the region. Nevertheless, signs of abundant cocoa supplies limited the upside. ICE cocoa inventories rose to a 1.75-year high of 2,745,277 bags as of May 26.

Cocoa fell to 4,103.34 USD/T on May 28, 2026, down 0.89% from the previous day. Over the past month, Cocoa's price has risen 21.40%, but it is still 57.52% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Cocoa reached an all time high of 12906 in December of 2024. Cocoa - data, forecasts, historical chart - was last updated on May 28 of 2026.

Cocoa fell to 4,103.34 USD/T on May 28, 2026, down 0.89% from the previous day. Over the past month, Cocoa's price has risen 21.40%, but it is still 57.52% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Cocoa is expected to trade at 3743.91 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 3172.10 in 12 months time.



Price Day Month Year Date
Soybeans 1,192.86 7.61 0.64% 0.90% 13.42% May/28
Wheat 625.82 3.32 0.53% -2.56% 17.20% May/28
Lumber 588.00 1.00 0.17% 3.89% 0.76% May/27
Cheese 1.60 -0.0109 -0.68% -5.95% -18.94% May/28
Palm Oil 4,552.00 56.00 1.25% -0.57% 15.74% May/28
Milk 16.90 -0.01 -0.06% 0.30% -9.14% May/27
Cocoa 4,210.56 70.56 1.70% 23.48% -54.07% May/28
Cotton 76.19 0.031 0.04% -3.80% 17.20% May/28
Rubber 222.10 -1.00 -0.45% 2.73% 33.63% May/28
Orange Juice 167.10 -10.00 -5.65% -3.69% -39.58% May/27
Coffee 275.45 5.60 2.08% -5.25% -20.90% May/28
Oat 380.51 3.2589 0.86% 13.84% 1.33% May/28
Wool 1,934.00 54.00 2.87% 2.06% 60.63% May/28
Rice 12.81 -0.1950 -1.50% 21.55% -4.12% May/28
Canola 761.51 4.81 0.64% -0.31% 5.66% May/28
Sugar 14.06 -0.08 -0.56% -4.80% -17.45% May/28
Corn 455.40 2.9022 0.64% -2.38% 1.88% May/28


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
4103.34 4140.00 12906.00 0.91 1959 - 2026 USD/MT Daily

News Stream
Cocoa Futures on the Rise
Cocoa futures rose toward $4,180 per tonne, the highest in nearly two weeks, driven by weather-related factors and intense short covering. The main trigger came from the Ivory Coast, the world’s largest cocoa producer, where heavy rains caused flooding in key growing regions, disrupting farming activity and logistics and raising concerns over supply flows and quality. The market has also increasingly priced in climate risks, with the potential formation of an El Niño event returning to focus and raising concerns over West African cocoa crop in the coming months. The phenomenon is associated with volatile global weather patterns, including both excess rainfall and drought conditions depending on the region. Nevertheless, signs of abundant cocoa supplies limited the upside. ICE cocoa inventories rose to a 1.75-year high of 2,745,277 bags as of May 26.
2026-05-27
Cocoa Futures at Near 3-Week Low
Cocoa futures traded around $3,800 per tonne, holding close to the lowest since early May, amid improved production prospects in top grower Ivory Coast and still weak global demand. On May 14, the country raised its cocoa delivery estimate to between 2.1 and 2.2 MMT for the 2025/26 season, up from a previous projection of 1.8-1.9 MMT, citing favorable weather. At the same time, the latest data showed ICE cocoa inventories rose to a 1.75-year high of 2,668,548 bags, indicating ample availability in the short term. However, fertilizer shortages and climate risks, including a potential El Niño event, continue to cloud the outlook for West African production. Concerns also persisted over unsold stockpiles in the Ivory Coast, as farmers remain unpaid for beans sold during the main crop, fuelling protests and discouragement that could weigh on the next harvest.
2026-05-20
Cocoa Futures Ease
Cocoa futures fell toward $4,000 per tonne, pulling away from a 3.5-month high of $4,709 per tonne hit on May 11, pressured by forecasts of higher cocoa deliveries from the Ivory Coast. The top grower now projects cocoa output of 2.2 MMT for the 2025/26 season, up from a previous projection of 1.8-1.9 MMT, citing favorable weather. Still, the outlook remains clouded by concerns over fertilizer shortages and potential El Niño effects on West African crops. Irregular rainfall in the Ivory Coast has once again raised alarm bells in the global cocoa market. Farmers in the country's main producing regions reported growing concern about the possibility of a smaller, lower-quality mid-season crop, just as the harvest is entering its crucial phase. In the meantime, early surveys of the 2026/27 West African cocoa crop showed below-average cherelle formation on cocoa trees, signaling a weak outlook for the main cocoa harvest, which begins in October.
2026-05-14