Cocoa futures traded close to a 3-month high of around $2600 a tonne, amid tight supplies and rising demand. Data from the Cocoa Association of Asia showed Asia's fourth quarter cocoa grind, a key indicator of demand, rose 6.33% year-on-year to 231,309 tonnes. Meanwhile, light rains and mild seasonal winds in most of Ivory Coast's cocoa-growing regions raised outlooks for both October-to-March and April-to-September crops. Elsewhere, the International Cocoa Organization in its recent report projected that global demand for cocoa would go up by 4.9 million tonnes in the 2021/2022 cropping season whereas production would rise by 5.2 million tonnes due to better weather conditions in major producing countries.

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

Cocoa is expected to trade at 2767.34 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 3244.97 in 12 months time.

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Cocoa


Price Day Month Year
Soybeans 1,397.00 5.7500 0.41% 6.42% 2.06%
Wheat 791.75 -4.7500 -0.60% -0.91% 19.83%
Lumber 1,223.70 -10.00 -0.81% 17.20% 74.81%
Cheese 1.89 -0.0010 -0.05% 7.50% 13.42%
Palm Oil 5,190.00 66.00 1.29% 18.39% 58.04%
Milk 20.25 0.02 0.10% 9.64% 25.39%
Cocoa 2,679.00 22.00 0.83% 8.90% 5.06%
Cotton 123.61 -0.34 -0.27% 15.23% 49.70%
Rubber 236.70 -1.70 -0.71% 6.62% -29.97%
Orange Juice 155.95 0.55 0.35% 11.23% 32.27%
Coffee 244.65 0.20 0.08% 7.19% 93.48%
Oat 652.50 -3.0000 -0.46% -2.14% 81.00%
Wool 1,393.00 -3.00 -0.21% 2.58% 17.06%
Rice 14.63 -0.0250 -0.17% 5.63% 10.46%
Canola 1,004.20 3.50 0.35% -1.80% 52.85%
Sugar 19.25 0.18 0.94% 2.72% 19.94%
Tea 2.76 0 0% -9.80% -5.15%
Corn 608.00 -2.5000 -0.41% 1.63% 15.98%


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.