Cocoa futures on ICE hovered around $2400 per tonne in late-June, as fears of reduced supplies from top growers almost offset the prospects of weak demand. Exporters estimated farmers sent a total 1.97 MMT of cocoa beans to Ivory Coast ports from Oct 1-Jun 26, down 4.9% from the same period a year ago. In neighbouring Ghana, the 2021/22 crop is reported to witness a staggering drop to about 800,000 tonnes compared to the historic volume of 1.047 million tonnes recorded during the 2020/21 crop year. However, cocoa futures are still down more than 10% from near a 2-year high of $2786 hit in February, as stocks at ICE licensed warehouses are significantly higher compared to the last season. At the same time, the latest ICCO market report indicated surging global inflation to constrain the consumption of non-essentials and luxury goods including cocoa products.

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

Cocoa is expected to trade at 2503.67 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 2614.89 in 12 months time.

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Cocoa



Price Day Month Year
Soybeans 1,663.00 -12.00 -0.72% -3.83% 14.55%
Wheat 870.50 -3.75 -0.43% -17.74% 34.80%
Lumber 663.30 29.70 4.69% 1.50% -9.79%
Cheese 2.20 -0.0300 -1.35% -8.79% 35.80%
Palm Oil 4,765.00 -145.00 -2.95% -26.33% 25.76%
Milk 22.67 0.14 0.62% -6.78% 35.02%
Cocoa 2,291.00 -26.00 -1.12% -8.21% -1.46%
Cotton 105.00 0.72 0.69% -24.45% 23.51%
Rubber 259.40 -1.20 -0.46% 3.35% 16.06%
Orange Juice 179.65 0.15 0.08% 1.30% 46.59%
Coffee 233.70 1.05 0.45% 1.06% 49.81%
Oat 677.00 15.7500 2.38% 3.60% 71.61%
Wool 1,430.00 0 0% 1.20% 0.49%
Rice 16.45 0.0200 0.12% -3.12% 28.08%
Canola 928.90 29.80 3.31% -21.57% 6.83%
Sugar 18.83 0.28 1.51% -2.94% 4.96%
Tea 2.76 0 0% 3.37% -6.76%
Corn 744.00 0.2500 0.03% 1.88% 6.70%


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
2291.00 2317.00 5379.00 211.00 1959 - 2022 USD/MT Daily