Cocoa prices have increased nearly 16% since the start of the year to reach a 3-1/2-year high of $2,988 per tonne in February, driven by adverse weather in West Africa. Below-average rainfall and hot winds across most of Ivory Coast and Ghana, who produce more than 60% of the world’s cocoa, have damaged cocoa crop there prompting concerns that demand will outpace supply in 2020. In 2019, Ivory Coast and Ghana introduced a price premium of $400 a tonne over the benchmark cocoa futures price to give a better deal to farmers and combat pervasive poverty.

Historically, Cocoa reached an all time high of 5379 in July of 1977.

Cocoa is expected to trade at 2834.48 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 3014.16 in 12 months time.


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Cocoa


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. Crude Oil prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments.

Energy Price Day Weekly Monthly Yearly Date
Crude Oil 53.5402 0.32 -0.60% 2.86% -4.91% -6.50% Feb/21
Brent 58.3671 0.88 -1.48% 1.83% -7.66% -13.04% Feb/21
Natural gas 1.9097 0.02 0.96% 3.95% 0.19% -29.71% Feb/21
Gasoline 1.6448 0.01 -0.69% 3.85% 3.59% 2.09% Feb/21
Heating oil 1.6850 0.00 0.03% -0.95% -6.23% -17.04% Feb/21
Ethanol 1.3151 0.01 -0.56% -2.51% 0.77% -2.30% Feb/21
Naphtha 478.21 1.88 -0.39% 0.48% -11.20% -3.90% Feb/21
Propane 0.40 0.00 -0.96% 3.69% -6.29% -40.21% Feb/21
Uranium 24.6000 0.00 0.00% 0.41% 0.41% -12.14% Feb/21

Metals Price Day Weekly Monthly Yearly Date
Gold 1,473.70 146.11 -9.02% -6.98% -5.45% 11.00% Feb/21
Silver 18.4545 0.03 0.19% 4.34% 2.94% 15.95% Feb/21
Platinum 973.40 4.48 -0.46% 1.07% -3.80% 14.65% Feb/21

Agricultural Price Day Weekly Monthly Yearly Date
Soybeans 889.1916 6.43 -0.72% -0.52% -2.73% -2.31% Feb/21
Wheat 550.3986 8.77 -1.56% 1.22% -4.68% 13.08% Feb/21
Palm Oil 2,590.00 0.00 0.00% 1.73% -0.65% 28.22% Feb/22
Cheese 1.7880 0.01 0.45% 0.22% -1.11% 28.08% Feb/21
Milk 17.01 0.06 0.35% 0.12% -0.23% 21.94% Feb/21
Wool 1,581.00 0.00 0.00% 0.83% 0.64% -22.00% Feb/21
Rice 13.3850 0.05 -0.37% 0.41% -0.37% 31.35% Feb/21
Tea 2.42 0.00 0.00% 0.00% -7.98% -15.38% Feb/21
Rubber 164.10 3.10 1.93% 5.19% -1.32% -15.37% Feb/21
Sugar 15.59 0.19 1.23% 3.52% 6.34% 19.01% Feb/21
Cocoa 2,922.00 17.00 -0.58% 0.62% 4.25% 30.04% Feb/21
Coffee 108.85 5.25 5.07% -0.23% -1.94% 12.91% Feb/21
Orange Juice 99.20 0.75 0.76% 0.05% 3.01% -16.25% Feb/21
Canola 458.30 1.00 -0.22% -0.26% -4.10% -2.66% Feb/21
Cotton 68.93 0.18 0.26% 2.25% -3.09% -4.17% Feb/21
Lumber 460.10 2.90 -0.63% 2.40% 8.21% 16.22% Feb/21
Oat 294.7566 2.57 -0.86% -0.16% -5.90% 8.77% Feb/21
Corn 376.7640 2.45 -0.65% -0.40% -2.78% 0.40% Feb/21

Livestock Price Day Weekly Monthly Yearly Date
Beef 13.53 0.18 -1.31% -3.15% 3.52% 29.97% Feb/21
Poultry 4.89 0.00 0.00% 0.62% 2.09% 12.67% Feb/21
Feeder Cattle 139.7316 1.00 -0.71% 0.85% -2.91% -2.22% Feb/21
Live Cattle 119.6114 0.91 -0.75% -1.23% -5.41% -7.04% Feb/21
Lean Hogs 81.9725 0.05 -0.06% 46.64% 21.35% 47.83% Feb/21

Industrial Price Day Weekly Monthly Yearly Date
Copper 2.6066 0.01 0.51% 0.40% -6.13% -11.97% Feb/21
Lithium 49,000.00 0.00 0.00% 0.00% 0.00% -37.58% Feb/21
Bitumen 2,964.00 166.00 -5.30% -2.56% -5.24% -9.36% Feb/21
Steel 3,428.00 15.00 0.44% 1.48% -6.82% -9.46% Feb/21
Aluminum 1,711.00 9.00 -0.52% -2.12% -6.22% -10.56% Feb/20
Tin 16,575.00 50.00 0.30% -0.09% -5.69% -22.89% Feb/20
Zinc 2,112.00 16.00 -0.75% -2.90% -13.95% -22.47% Feb/20
Palladium 2,703.16 12.99 0.48% 11.16% 9.35% 75.42% Feb/21
Coal 67.60 0.35 -0.52% -4.69% -1.13% -27.93% Feb/21
Cobalt 33,750.00 0.00 0.00% 0.00% 3.85% 5.47% Feb/21
Lead 1,870.75 62.75 -3.25% -1.34% -6.03% -9.79% Feb/21
Nickel 12,445.00 136.00 -1.08% -3.77% -8.22% -3.50% Feb/21
Molybdenum 25.80 0.00 0.00% 6.61% 6.61% -5.32% Feb/21
Iron Ore 93.00 0.50 0.54% 5.08% -3.63% 6.29% Feb/21
Soda Ash 1,550.00 0.00 0.00% 0.00% 0.00% -22.11% Feb/21
Neodymium 372,500.00 0.00 0.00% 1.09% 1.36% -6.41% Feb/21
Iron Ore 62% fe 86.4200 0.27 0.31% 1.84% -8.80% -1.73% Feb/21
Rhodium 12,700.00 0.00 0.00% 14.67% 27.64% 366.06% Feb/21
Manganese 32.50 0.00 0.00% 0.00% 3.17% -17.72% Feb/21

Index Price Day Weekly Monthly Yearly Date
Baltic Dry 497.00 17.00 3.54% 16.94% -20.22% -21.98% Feb/21
CRB Index 185.26 0.08 -0.04% 1.01% -2.87% -2.01% Feb/21
LME Index 2,654.10 0.00 0.00% -0.76% -6.61% -12.62% Feb/21
S&P GSCI 2,381.10 0.00 0.00% 1.79% -4.26% -3.15% Feb/21