Cocoa prices averaged USD 8,981 per metric ton in May, up 10.3% from April. On 30 May, the commodity traded at USD 8,408 per metric ton, up 0.2% from 30 April.
Cocoa prices averaged higher in May on U.S. tariff hikes, slowing exports from Côte d’Ivoire, persistent drought in West Africa and poor crop quality. These factors outweighed downward pressures from market expectations of softer demand ahead plus a rebound in global inventories.
This chart displays Cocoa (US$/mt) from 2023 to 2025.
Cocoa ICCO (prices in US$/mt, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cocoa ICCO | - | 2,954 | 3,470 | 4,011 | 5,750 | 8,657 | 6,803 | 8,285 | 9,558 | - | - | - |